Signet Investment Advisory Group Inc. Makes New Investment in GE Aerospace (NYSE:GE)

Signet Investment Advisory Group Inc. bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,110 shares of the company's stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copia Wealth Management increased its stake in 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 acquiring an additional 142 shares during the last quarter. New Age Alpha Advisors LLC increased its stake 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 acquiring an additional 84 shares during the last quarter. O Brien Wealth Partners LLC acquired a new stake in shares of 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 grew its stake in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus price target of $240.33.

GE Aerospace Trading Up 1.2%

NYSE:GE opened at $263.49 on Friday. The firm has a market cap of $280.98 billion, a PE ratio of 36.75, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. The stock has a fifty day moving average price of $244.37 and a 200 day moving average price of $212.06. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $272.80. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. GE Aerospace's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. Sell-side analysts anticipate 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 issued 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 20.08%.

Insider Transactions at GE Aerospace

In other GE Aerospace 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 transaction of $807,379.92. Following the completion of the sale, the vice president directly 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 Securities & Exchange Commission, which is available at 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 sale, the senior vice president directly owned 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 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.

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