Drake & Associates LLC Has $1 Million Stock Position in GE Aerospace (NYSE:GE)

Drake & Associates LLC grew its position in shares of GE Aerospace (NYSE:GE) by 13.1% in the first quarter, HoldingsChannel reports. The fund owned 5,016 shares of the company’s stock after acquiring an additional 582 shares during the period. Drake & Associates LLC’s holdings in GE Aerospace were worth $1,004,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC boosted its holdings 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 buying an additional 84 shares during the last quarter. 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 shares of GE Aerospace in the 4th quarter valued at approximately $29,000. Finally, Copia Wealth Management boosted its holdings in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Up 0.8%

GE stock opened at $246.78 on Friday. The stock’s fifty day simple moving average is $234.38 and its two-hundred day simple moving average is $205.94. 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 has a 1-year low of $150.20 and a 1-year high of $260.55. The stock has a market cap of $263.16 billion, a P/E ratio of 38.38, a P/E/G ratio of 2.98 and a beta of 1.37.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, 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 value of $321,473.34. Following the transaction, the senior vice president directly owned 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GE. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Northcoast Research cut GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Citigroup dropped their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada set a $275.00 price target on GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has a consensus 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.