OMNI 360 Wealth Inc. Acquires New Position in GE Aerospace (NYSE:GE)

OMNI 360 Wealth Inc. purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,340 shares of the company's stock, valued at approximately $468,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Norges Bank purchased a new stake in GE Aerospace during the 4th quarter worth approximately $2,375,439,000. GAMMA Investing LLC increased its stake in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the period. Janus Henderson Group PLC grew its holdings in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. grew its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, FMR LLC grew its holdings in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction 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 transaction, the vice president directly owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction 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 completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

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

GE Aerospace Stock Up 1.6%

Shares of NYSE GE traded up $3.96 during mid-day trading on Wednesday, reaching $251.01. The company had a trading volume of 2,068,785 shares, compared to its average volume of 5,509,515. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $260.55. 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 cap of $267.67 billion, a P/E ratio of 39.04, a PEG ratio of 3.00 and a beta of 1.37. The firm has a 50 day simple moving average of $236.28 and a two-hundred day simple moving average of $207.07.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 yield of 0.57%. GE Aerospace's payout ratio is currently 22.40%.

About GE Aerospace

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.