Red Door Wealth Management LLC Has $508,000 Stock Position in GE Aerospace (NYSE:GE)

Red Door Wealth Management LLC grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 75.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,538 shares of the company's stock after acquiring an additional 1,094 shares during the period. Red Door Wealth Management LLC's holdings in GE Aerospace were worth $508,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Intelligence Driven Advisers LLC raised its stake in GE Aerospace by 32.1% during the 1st quarter. Intelligence Driven Advisers LLC now owns 4,873 shares of the company's stock valued at $975,000 after purchasing an additional 1,184 shares during the period. Nicholson Meyer Capital Management Inc. acquired a new position in GE Aerospace during the first quarter valued at $844,000. MorganRosel Wealth Management LLC purchased a new stake in GE Aerospace in the 1st quarter worth about $129,000. Valley National Advisers Inc. boosted its position in GE Aerospace by 4.6% during the 1st quarter. Valley National Advisers Inc. now owns 1,608 shares of the company's stock worth $321,000 after acquiring an additional 71 shares during the period. Finally, Jacobsen Capital Management grew its stake in GE Aerospace by 3.4% during the 1st quarter. Jacobsen Capital Management now owns 2,013 shares of the company's stock valued at $403,000 after acquiring an additional 66 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Insider Transactions at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president owned 11,540 shares of the company's stock, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded down $4.89 during trading on Wednesday, reaching $244.13. The company's stock had a trading volume of 3,485,402 shares, compared to its average volume of 5,496,606. GE Aerospace has a one year low of $150.20 and a one year high of $260.55. 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 firm has a market cap of $260.33 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. The business's fifty day moving average price is $231.41 and its 200-day moving average price is $204.23.

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

GE Aerospace Announces Dividend

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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.59%. GE Aerospace's payout ratio is presently 22.40%.

Analyst Ratings Changes

A number of analysts have recently issued reports on GE shares. Wells Fargo & Company increased their price target 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. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group boosted their target price on 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 cut their price target on 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average 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.