Columbia River Financial Group LLC Takes Position in GE Aerospace (NYSE:GE)

Columbia River Financial Group LLC purchased a new stake in GE Aerospace (NYSE:GE) during the first quarter, Holdings Channel reports. The institutional investor purchased 274 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds have also modified their holdings of the company. New Age Alpha Advisors LLC raised its position in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC acquired a new stake in GE Aerospace during the 4th quarter worth approximately $29,000. Finally, Copia Wealth Management raised its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after buying an additional 142 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the sale, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. The trade was 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 Trading Up 0.8%

GE opened at $246.78 on Friday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $260.55. The company has a 50-day simple moving average of $234.38 and a 200 day simple moving average of $205.62. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $263.16 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 2.98 and a beta of 1.37.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. 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. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.58%. GE Aerospace’s payout ratio is 22.40%.

Wall Street Analyst Weigh In

Several brokerages have commented on GE. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Citigroup dropped their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.75.

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.