WNY Asset Management LLC Acquires 1,039 Shares of GE Aerospace (NYSE:GE)

WNY Asset Management LLC grew its holdings in GE Aerospace (NYSE:GE - Free Report) by 52.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,021 shares of the company's stock after buying an additional 1,039 shares during the quarter. WNY Asset Management LLC's holdings in GE Aerospace were worth $605,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after acquiring an additional 50 shares during the period. Hudock Inc. lifted its position in GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after purchasing an additional 50 shares during the period. First Pacific Financial grew its stake in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares in the last quarter. First Heartland Consultants Inc. increased its holdings in GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after buying an additional 54 shares during the period. Finally, Affinity Wealth Management LLC raised its position in shares of GE Aerospace by 4.4% in the 1st quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock valued at $264,000 after buying an additional 56 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Trading Up 1.2%

GE opened at $263.49 on Friday. The company has a fifty day moving average price of $244.37 and a two-hundred day moving average price of $212.06. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.80. The company has a market cap of $280.98 billion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. 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 posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 net margin of 18.64% and a return on equity of 31.32%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced 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 0.55%. GE Aerospace's dividend payout ratio is presently 20.08%.

Insiders Place Their Bets

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the company'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 sale, the vice president directly owned 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 owned 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday. UBS Group raised their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a 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. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $240.33.

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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