Peddock Capital Advisors LLC Purchases New Stake in GE Aerospace (NYSE:GE)

Peddock Capital Advisors LLC acquired 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 institutional investor acquired 1,087 shares of the company's stock, valued at approximately $218,000.

A number of other hedge funds have also recently modified their holdings of the stock. Leavell Investment Management Inc. grew its position in shares of GE Aerospace by 13.3% in the 1st quarter. Leavell Investment Management Inc. now owns 13,001 shares of the company's stock valued at $2,606,000 after buying an additional 1,529 shares during the last quarter. Quotient Wealth Partners LLC grew its position in GE Aerospace by 5.0% during the 1st quarter. Quotient Wealth Partners LLC now owns 4,988 shares of the company's stock worth $998,000 after purchasing an additional 239 shares during the last quarter. Alpha Financial Partners LLC purchased a new position in GE Aerospace during the 1st quarter worth $212,000. Topsail Wealth Management LLC purchased a new position in GE Aerospace during the 1st quarter worth $246,000. Finally, Banque Pictet & Cie SA grew its position in GE Aerospace by 33.5% during the 1st quarter. Banque Pictet & Cie SA now owns 8,655 shares of the company's stock worth $1,732,000 after purchasing an additional 2,171 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the vice president directly owned 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Trading Up 0.9%

Shares of NYSE GE traded up $2.26 during midday trading on Thursday, reaching $252.59. 5,459,878 shares of the stock were exchanged, compared to its average volume of 5,539,240. The company has a market capitalization of $269.36 billion, a P/E ratio of 39.28, a P/E/G ratio of 2.98 and a beta of 1.37. 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 50 day moving average price of $237.24 and a 200-day moving average price of $207.36.

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

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.57%. GE Aerospace's payout ratio is 22.40%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GE. Wells Fargo & Company raised their price objective 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. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group raised their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note 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 data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price 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.