Peregrine Asset Advisers Inc. Sells 2,337 Shares of GE Aerospace (NYSE:GE)

Peregrine Asset Advisers Inc. lessened its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 43.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,054 shares of the company's stock after selling 2,337 shares during the period. Peregrine Asset Advisers Inc.'s holdings in GE Aerospace were worth $611,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rainey & Randall Wealth Advisors Inc. purchased a new stake in GE Aerospace in the first quarter worth $203,000. Sendero Wealth Management LLC grew its stake in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after buying an additional 8,245 shares during the last quarter. National Bank of Canada FI grew its stake in shares of GE Aerospace by 2.9% in the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after acquiring an additional 29,844 shares during the last quarter. Finally, Global Assets Advisory LLC grew its position in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GE. Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup reiterated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada increased their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

NYSE:GE traded up $5.89 during trading hours on Thursday, reaching $269.07. The stock had a trading volume of 2,328,675 shares, compared to its average volume of 6,249,195. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $272.80. The company has a 50 day moving average price of $246.81 and a two-hundred day moving average price of $213.67. The stock has a market capitalization of $285.34 billion, a PE ratio of 37.53, a PEG ratio of 2.93 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business's quarterly revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.54%. GE Aerospace's payout ratio is 20.08%.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the company's 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 of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.