VCI Wealth Management LLC Has $1.58 Million Position in GE Aerospace (NYSE:GE)

VCI Wealth Management LLC lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 24.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,878 shares of the company's stock after selling 2,596 shares during the quarter. VCI Wealth Management LLC's holdings in GE Aerospace were worth $1,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. New Age Alpha Advisors LLC increased its holdings in shares of GE Aerospace by 133.3% in 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 in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the fourth quarter worth about $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the fourth quarter worth about $28,000. Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Finally, First Pacific Financial increased its holdings in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on GE. Royal Bank Of Canada increased their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Citigroup reiterated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, UBS Group increased their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of GE traded up $4.34 during mid-day trading on Friday, reaching $272.35. The company's stock had a trading volume of 1,837,488 shares, compared to its average volume of 6,238,295. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.80. The stock has a market cap of $288.81 billion, a P/E ratio of 37.98, a PEG ratio of 3.01 and a beta of 1.37. The business has a 50-day simple moving average of $247.59 and a two-hundred day simple moving average of $214.32. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the firm posted $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.53%. GE Aerospace's payout ratio is 20.08%.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently 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.