Souders Financial Advisors Sells 6,285 Shares of GE Aerospace (NYSE:GE)

Souders Financial Advisors cut its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,919 shares of the company's stock after selling 6,285 shares during the period. Souders Financial Advisors' holdings in GE Aerospace were worth $2,986,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its stake in GE Aerospace by 3.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 83,526 shares of the company's stock worth $16,718,000 after purchasing an additional 3,144 shares during the period. J.W. Cole Advisors Inc. boosted its stake in GE Aerospace by 222.4% in the 1st quarter. J.W. Cole Advisors Inc. now owns 45,814 shares of the company's stock worth $9,170,000 after purchasing an additional 31,603 shares during the period. Signet Investment Advisory Group Inc. bought a new position in GE Aerospace in the 1st quarter worth about $222,000. BKM Wealth Management LLC boosted its stake in GE Aerospace by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the company's stock worth $565,000 after purchasing an additional 72 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its stake in GE Aerospace by 6.4% in the 1st quarter. Atlantic Union Bankshares Corp now owns 1,667 shares of the company's stock worth $334,000 after purchasing an additional 100 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday. Wells Fargo & Company lifted their price target on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, UBS Group boosted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $240.33.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction 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 transaction, the senior vice president owned 8,805 shares in the company, valued at approximately $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. Insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 1.2%

Shares of GE stock opened at $263.49 on Friday. The company has a market capitalization of $280.98 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 3.09 and a beta of 1.37. GE Aerospace has a one year low of $150.20 and a one year high of $272.80. The company's fifty day moving average price is $244.37 and its 200-day moving average price is $212.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.77.

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

GE Aerospace Announces Dividend

The company 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 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 presently 20.08%.

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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