Northcape Wealth Management LLC Takes Position in GE Aerospace (NYSE:GE)

Northcape Wealth Management LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,037 shares of the company's stock, valued at approximately $208,000.

A number of other hedge funds also recently made changes to their positions in GE. Brighton Jones LLC raised its stake in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of GE Aerospace by 5.2% during the 4th quarter. NewEdge Wealth LLC now owns 9,962 shares of the company's stock worth $1,662,000 after purchasing an additional 488 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of GE Aerospace by 30.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,244 shares of the company's stock worth $875,000 after purchasing an additional 1,231 shares in the last quarter. Finally, Linscomb Wealth Inc. increased its position in shares of GE Aerospace by 782.1% during the 4th quarter. Linscomb Wealth Inc. now owns 10,929 shares of the company's stock worth $1,823,000 after purchasing an additional 9,690 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Trading Up 1.4%

GE opened at $254.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $271.39 billion, a PE ratio of 39.58, a PEG ratio of 3.07 and a beta of 1.38. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55. The firm has a 50-day moving average price of $228.63 and a two-hundred day moving average price of $203.00.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. As a group, equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.57%. GE Aerospace's dividend payout ratio is 22.40%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GE. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $223.75.

GE Aerospace Profile

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.

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