Pettee Investors Inc. Decreases Position in GE Aerospace (NYSE:GE)

Pettee Investors Inc. lowered its position in GE Aerospace (NYSE:GE - Free Report) by 42.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,514 shares of the company's stock after selling 3,269 shares during the period. Pettee Investors Inc.'s holdings in GE Aerospace were worth $903,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC lifted its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the fourth quarter worth $28,000. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth $28,000. Copia Wealth Management grew its stake in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Finally, First Pacific Financial grew its stake in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of NYSE:GE traded up $3.21 during trading on Friday, reaching $263.49. 8,605,410 shares of the stock were exchanged, compared to its average volume of 5,646,119. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.80. The firm has a market cap of $280.98 billion, a PE ratio of 40.98, a PEG ratio of 3.19 and a beta of 1.37. The stock has a 50-day moving average price of $243.40 and a 200-day moving average price of $211.08. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.55%. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president directly 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. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GE shares. Wells Fargo & Company increased their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group raised their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday. Finally, Citigroup reaffirmed a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.33.

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.