GE Aerospace (NYSE:GE) Stock Position Raised by Welch & Forbes LLC

Welch & Forbes LLC grew its stake in GE Aerospace (NYSE:GE - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,376 shares of the company's stock after purchasing an additional 1,860 shares during the quarter. Welch & Forbes LLC's holdings in GE Aerospace were worth $9,683,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Cullen Frost Bankers Inc. increased its stake in GE Aerospace by 5.3% during the first quarter. Cullen Frost Bankers Inc. now owns 93,651 shares of the company's stock valued at $18,744,000 after purchasing an additional 4,672 shares during the last quarter. Parcion Private Wealth LLC boosted its holdings in shares of GE Aerospace by 108.3% in the 1st quarter. Parcion Private Wealth LLC now owns 4,341 shares of the company's stock valued at $869,000 after buying an additional 2,257 shares during the period. BIP Wealth LLC grew its position in shares of GE Aerospace by 28.5% during the 1st quarter. BIP Wealth LLC now owns 1,847 shares of the company's stock valued at $370,000 after buying an additional 410 shares during the last quarter. Bridgewater Advisors Inc. acquired a new stake in GE Aerospace during the first quarter worth about $768,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in GE Aerospace by 13.5% in the first quarter. Kornitzer Capital Management Inc. KS now owns 8,638 shares of the company's stock worth $1,729,000 after acquiring an additional 1,028 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday. Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $229.50.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm's 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 in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Price Performance

GE stock traded up $1.59 during trading on Wednesday, hitting $266.26. The company had a trading volume of 11,892,420 shares, compared to its average volume of 5,593,374. The firm has a market capitalization of $283.94 billion, a price-to-earnings ratio of 41.41, a P/E/G ratio of 3.17 and a beta of 1.37. The business has a 50 day moving average of $241.36 and a 200 day moving average of $210.06. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $267.20. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

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

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.54%. GE Aerospace's dividend payout ratio (DPR) is presently 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.