Rainey & Randall Wealth Advisors Inc. Acquires Shares of 1,012 GE Aerospace (NYSE:GE)

Rainey & Randall Wealth Advisors Inc. bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,012 shares of the company's stock, valued at approximately $203,000.

Other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management lifted its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. New Age Alpha Advisors LLC lifted its position in GE Aerospace by 133.3% during the fourth 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. O Brien Wealth Partners LLC purchased a new stake in GE Aerospace in the first quarter valued at $33,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter valued at $28,000. Finally, First Pacific Financial lifted its position in shares of 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 during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE Aerospace stock traded up $1.94 during midday trading on Tuesday, hitting $264.28. 5,115,016 shares of the company were exchanged, compared to its average volume of 6,139,805. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $265.06. The business has a fifty day simple moving average of $240.24 and a two-hundred day simple moving average of $209.68. The firm has a market capitalization of $281.82 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate 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. On average, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.54%. GE Aerospace's dividend payout ratio is presently 22.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company upped 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. Citigroup upped their price objective on GE Aerospace from $227.00 to $296.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the stock an "outperform" rating in a 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $229.50.

Insider Transactions at GE Aerospace

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president directly owned 8,805 shares of the company's stock, 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. 0.21% of the stock is owned by insiders.

GE Aerospace Company 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.