SFE Investment Counsel Has $2.97 Million Stock Position in GE Aerospace (NYSE:GE)

SFE Investment Counsel cut its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,835 shares of the company's stock after selling 1,355 shares during the quarter. SFE Investment Counsel's holdings in GE Aerospace were worth $2,969,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Machina Capital S.A.S. bought a new stake in GE Aerospace in the first quarter worth approximately $2,668,000. Pinnacle Associates Ltd. lifted its stake in GE Aerospace by 7.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 23,214 shares of the company's stock worth $4,646,000 after purchasing an additional 1,601 shares in the last quarter. Maryland Capital Advisors Inc. increased its holdings in shares of GE Aerospace by 15.2% in the 1st quarter. Maryland Capital Advisors Inc. now owns 561 shares of the company's stock worth $112,000 after buying an additional 74 shares during the last quarter. AE Wealth Management LLC increased its holdings in shares of GE Aerospace by 15.3% in the first quarter. AE Wealth Management LLC now owns 103,426 shares of the company's stock worth $20,701,000 after buying an additional 13,757 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in shares of GE Aerospace by 3.7% during the first quarter. Wedbush Securities Inc. now owns 13,845 shares of the company's stock valued at $2,771,000 after acquiring an additional 500 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. 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 objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday. Finally, Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $3.27 during midday trading on Friday, hitting $271.28. The company had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $272.83. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $287.67 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37. The company has a fifty day simple moving average of $247.59 and a 200 day simple moving average of $214.32.

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

GE Aerospace Dividend Announcement

The firm 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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Insider Buying and Selling at GE Aerospace

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 value of $321,473.34. Following the sale, the senior vice president directly 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 document filed with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

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.