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

Parr Mcknight Wealth Management Group LLC increased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 200.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,714 shares of the company's stock after acquiring an additional 7,143 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in GE Aerospace were worth $2,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Norges Bank purchased a new stake in GE Aerospace during the 4th quarter valued at about $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 in the last quarter. Janus Henderson Group PLC grew its position in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. grew its position in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, FMR LLC grew its position in shares of GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

GE Aerospace Stock Up 1.1%

Shares of NYSE GE opened at $249.78 on Thursday. The stock has a fifty day moving average price of $237.24 and a 200 day moving average price of $207.36. 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 company has a market cap of $266.36 billion, a P/E ratio of 38.85, a P/E/G ratio of 2.98 and a beta of 1.37. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $260.55.

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

GE Aerospace Dividend Announcement

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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is presently 22.40%.

Insider Buying and Selling

In related news, VP Robert M. Giglietti sold 4,104 shares of the firm's 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 transaction, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

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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