Westbourne Investments Inc. Takes Position in GE Aerospace (NYSE:GE)

Westbourne Investments Inc. bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 35,843 shares of the company's stock, valued at approximately $5,978,000. GE Aerospace makes up about 3.5% of Westbourne Investments Inc.'s portfolio, making the stock its 7th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in GE. Truvestments Capital LLC lifted its stake in GE Aerospace by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company's stock worth $39,000 after purchasing an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of GE Aerospace by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after buying an additional 50 shares during the last quarter. Ballast Advisors LLC lifted its stake in GE Aerospace by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company's stock valued at $349,000 after buying an additional 51 shares during the period. Blue Barn Wealth LLC raised its holdings in GE Aerospace by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company's stock worth $245,000 after purchasing an additional 54 shares during the period. Finally, Game Plan Financial Advisors LLC lifted its holdings in shares of GE Aerospace by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the company's stock valued at $96,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

GE Aerospace Stock Up 2.1 %

GE traded up $4.26 on Friday, hitting $207.87. The company had a trading volume of 3,826,348 shares, compared to its average volume of 5,367,829. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $214.21. The firm has a market capitalization of $221.67 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.59 and a beta of 1.04. The stock has a fifty day simple moving average of $194.31 and a 200-day simple moving average of $187.12.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on GE shares. JPMorgan Chase & Co. increased their target price on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Wells Fargo & Company raised their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Citigroup decreased their target price on GE Aerospace from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Redburn Atlantic initiated coverage on GE Aerospace in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $216.92.

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.