Sheets Smith Wealth Management Takes Position in GE Aerospace (NYSE:GE)

Sheets Smith Wealth Management purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,830 shares of the company's stock, valued at approximately $566,000.

A number of other large investors also recently bought and sold shares of GE. Norges Bank purchased a new position in GE Aerospace during the fourth quarter worth approximately $2,375,439,000. GAMMA Investing LLC raised its stake in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Janus Henderson Group PLC increased its position in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. increased its position in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter worth $194,208,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Citigroup dropped their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company increased their price objective 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. UBS Group increased their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.15.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was 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 now owns 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents 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 company insiders.

GE Aerospace Stock Up 1.4%

GE Aerospace stock traded up $3.50 during midday trading on Friday, hitting $254.50. 26,986,431 shares of the stock were exchanged, compared to its average volume of 5,482,423. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55. The firm has a market cap of $271.39 billion, a P/E ratio of 39.58, a P/E/G ratio of 3.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The company has a 50 day moving average price of $228.63 and a two-hundred day moving average price of $203.00.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. On average, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 0.57%. GE Aerospace's dividend payout ratio is currently 22.40%.

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.