Spectrum Financial Alliance Ltd LLC grew its position in shares of GE Aerospace (NYSE:GE – Free Report) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,664 shares of the company’s stock after buying an additional 10,889 shares during the period. GE Aerospace accounts for 7.6% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its 8th largest position. Spectrum Financial Alliance Ltd LLC’s holdings in GE Aerospace were worth $38,400,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GE. Brighton Jones LLC lifted its position in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after purchasing an additional 150 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in GE Aerospace by 4.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,337 shares of the company’s stock worth $1,116,000 after purchasing an additional 191 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in GE Aerospace by 348.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 5,899 shares of the company’s stock worth $1,518,000 after purchasing an additional 4,584 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in GE Aerospace by 4.2% during the 2nd quarter. HUB Investment Partners LLC now owns 9,035 shares of the company’s stock worth $2,326,000 after purchasing an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.
GE Aerospace Price Performance
NYSE GE traded up $6.20 during trading on Thursday, reaching $289.77. The company’s stock had a trading volume of 1,133,044 shares, compared to its average volume of 5,938,818. The stock has a market capitalization of $302.33 billion, a PE ratio of 35.68, a P/E/G ratio of 2.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.01 and a quick ratio of 0.70. The firm has a fifty day moving average of $306.50 and a 200 day moving average of $306.39. GE Aerospace has a one year low of $200.86 and a one year high of $348.48.
GE Aerospace Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, March 9th were paid a $0.47 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.6%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.36. GE Aerospace’s dividend payout ratio is currently 23.15%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on GE. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a report on Monday. Citigroup dropped their price objective on GE Aerospace from $380.00 to $353.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Wells Fargo & Company began coverage on GE Aerospace in a report on Wednesday, April 1st. They set an “overweight” rating and a $325.00 price objective on the stock. TD Cowen dropped their price objective on GE Aerospace from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Finally, President Capital dropped their price objective on GE Aerospace from $355.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $349.89.
Check Out Our Latest Stock Report on GE Aerospace
Insiders Place Their Bets
In other news, VP Robert M. Giglietti sold 3,035 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $305.51, for a total transaction of $927,222.85. Following the transaction, the vice president directly owned 10,583 shares in the company, valued at approximately $3,233,212.33. This represents a 22.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy L. Gowder sold 4,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $305.73, for a total value of $1,222,920.00. Following the transaction, the senior vice president owned 16,535 shares in the company, valued at $5,055,245.55. This trade represents a 19.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,398 shares of company stock worth $11,455,491 in the last ninety days. 0.19% of the stock is currently owned by insiders.
GE Aerospace Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
See Also
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