Parkshore Wealth Management Inc. Invests $286,000 in GE Aerospace (NYSE:GE)

Parkshore Wealth Management Inc. bought a new position in GE Aerospace (NYSE:GE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,714 shares of the company's stock, valued at approximately $286,000.

Other large investors have also added to or reduced their stakes in the company. Johnson & White Wealth Management LLC purchased a new position in GE Aerospace during the fourth quarter worth about $733,000. Chung Wu Investment Group LLC bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $795,000. National Bank of Canada FI boosted its stake in shares of GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after buying an additional 29,844 shares during the last quarter. World Investment Advisors LLC grew its holdings in shares of GE Aerospace by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the company's stock valued at $2,576,000 after acquiring an additional 5,162 shares in the last quarter. Finally, National Pension Service increased its position in shares of GE Aerospace by 1.7% during the fourth quarter. National Pension Service now owns 2,254,637 shares of the company's stock valued at $376,051,000 after acquiring an additional 37,884 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Insider Activity at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction 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 sale, the vice president now owns 11,540 shares of the company's stock, valued at $2,270,264.20. This represents a 26.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 sale, the senior vice president now owns 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

GE Aerospace Price Performance

Shares of NYSE:GE traded up $4.46 on Friday, hitting $208.07. The company's stock had a trading volume of 1,936,364 shares, compared to its average volume of 5,359,234. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $214.21. The company has a market capitalization of $221.88 billion, a PE ratio of 34.75, a PEG ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a 50-day simple moving average of $194.14 and a 200 day simple moving average of $187.00.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.06 billion. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date was Monday, March 10th. This is a positive change from GE Aerospace's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. GE Aerospace's dividend payout ratio is 22.40%.

Analyst Ratings Changes

GE has been the subject of several research analyst reports. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Bank of America raised their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Redburn Atlantic began coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price target on shares of GE Aerospace in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price target on GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $216.92.

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.