Washburn Capital Management Inc. Increases Stake in GE Aerospace (NYSE:GE)

Washburn Capital Management Inc. grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 51.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,234 shares of the company's stock after acquiring an additional 1,440 shares during the quarter. GE Aerospace comprises about 0.5% of Washburn Capital Management Inc.'s investment portfolio, making the stock its 26th biggest holding. Washburn Capital Management Inc.'s holdings in GE Aerospace were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Allegiance Financial Group Advisory Services LLC increased its stake in GE Aerospace by 22.9% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 3,804 shares of the company's stock worth $761,000 after acquiring an additional 708 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in GE Aerospace in the first quarter worth $471,000. Hollencrest Capital Management increased its position in GE Aerospace by 9.6% in the first quarter. Hollencrest Capital Management now owns 10,606 shares of the company's stock worth $2,123,000 after purchasing an additional 927 shares during the last quarter. Creekmur Asset Management LLC increased its position in GE Aerospace by 1,108.3% in the first quarter. Creekmur Asset Management LLC now owns 290 shares of the company's stock worth $58,000 after purchasing an additional 266 shares during the last quarter. Finally, Mystic Asset Management Inc. increased its position in GE Aerospace by 2.7% in the first quarter. Mystic Asset Management Inc. now owns 12,263 shares of the company's stock worth $2,454,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

GE has been the topic of several research reports. Royal Bank Of Canada set a $275.00 price target on shares of GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. UBS Group boosted their price target 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. Wells Fargo & Company boosted their price target 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. Citigroup restated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.50.

GE Aerospace Stock Up 2.5%

Shares of NYSE:GE traded up $6.49 during trading on Friday, reaching $266.77. The stock had a trading volume of 3,095,061 shares, compared to its average volume of 5,625,194. GE Aerospace has a one year low of $150.20 and a one year high of $272.80. The company has a market capitalization of $284.48 billion, a P/E ratio of 41.54, a PEG ratio of 3.19 and a beta of 1.37. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The firm's 50-day simple moving average is $243.40 and its 200 day simple moving average is $211.08.

GE Aerospace (NYSE:GE - Get Free Report) last issued its 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 analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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 given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.54%. GE Aerospace's dividend payout ratio is presently 22.40%.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, 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 disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.

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