Parr Mcknight Wealth Management Group LLC Acquires 7,143 Shares of GE Aerospace (NYSE:GE)

Parr Mcknight Wealth Management Group LLC raised its position in GE Aerospace (NYSE:GE - Free Report) by 200.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,714 shares of the company's stock after buying an additional 7,143 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in GE Aerospace were worth $2,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Brighton Jones LLC grew its holdings in 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 lifted 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 valued at $375,000 after acquiring an additional 150 shares during the period. Proficio Capital Partners LLC lifted its position in shares of GE Aerospace by 62.2% during the 4th quarter. Proficio Capital Partners LLC now owns 3,327 shares of the company's stock valued at $555,000 after acquiring an additional 1,276 shares during the period. Moran Wealth Management LLC lifted its position in shares of GE Aerospace by 5.4% during the 4th quarter. Moran Wealth Management LLC now owns 1,360 shares of the company's stock valued at $227,000 after acquiring an additional 70 shares during the period. Finally, Independent Advisor Alliance lifted its position in shares of GE Aerospace by 21.5% during the 4th quarter. Independent Advisor Alliance now owns 27,886 shares of the company's stock valued at $4,651,000 after acquiring an additional 4,943 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GE Aerospace

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

GE Aerospace Trading Up 1.2%

Shares of GE stock traded up $2.99 on Friday, hitting $255.56. The company had a trading volume of 4,439,768 shares, compared to its average volume of 5,532,279. The firm has a market cap of $272.52 billion, a P/E ratio of 39.75, a P/E/G ratio of 3.02 and a beta of 1.37. The stock's 50-day moving average is $238.22 and its two-hundred day moving average is $207.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results 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. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.06 billion. On average, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.56%. GE Aerospace's dividend payout ratio is currently 22.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group upped their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on 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 price objective on 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 investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $223.75.

GE Aerospace Company 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.