Peddock Capital Advisors LLC Acquires Shares of 1,087 GE Aerospace (NYSE:GE)

Peddock Capital Advisors LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,087 shares of the company's stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in GE Aerospace during the fourth quarter valued at approximately $2,375,439,000. GAMMA Investing LLC boosted its position in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after buying an additional 1,673,365 shares during the period. Invesco Ltd. increased its position in shares of GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. Finally, FMR LLC raised its stake 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 buying an additional 965,012 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction 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 sale, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company'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 completion of 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 disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

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

GE Aerospace Stock Up 1.2%

NYSE GE traded up $2.92 during trading hours on Friday, hitting $255.49. 7,838,134 shares of the company traded hands, compared to its average volume of 5,549,492. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The business's 50-day moving average is $239.17 and its 200-day moving average is $208.52. The stock has a market capitalization of $272.45 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 3.05 and a beta of 1.37. 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 announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.56%. GE Aerospace's payout ratio is 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.