Nearwater Capital Markets Ltd Takes $10.51 Million Position in GE Aerospace (NYSE:GE)

Nearwater Capital Markets Ltd purchased a new position in GE Aerospace (NYSE:GE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 63,000 shares of the company’s stock, valued at approximately $10,508,000.

Other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC grew its holdings in shares of 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 buying an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in 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 purchasing an additional 50 shares during the last quarter. Ballast Advisors LLC raised its position in shares of GE Aerospace by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after purchasing an additional 51 shares during the last quarter. Blue Barn Wealth LLC boosted its stake in shares of GE Aerospace by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock valued at $245,000 after acquiring an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in GE Aerospace by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the company’s stock worth $96,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.2%

GE Aerospace stock opened at $221.55 on Wednesday. The firm’s 50-day simple moving average is $196.07 and its 200 day simple moving average is $188.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $223.55. The stock has a market cap of $236.26 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. Research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. 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 the business’s stock in a transaction that occurred on 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 directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price objective on GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic began coverage on GE Aerospace in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target for the company. Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Bank of America boosted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.