Transcend Capital Advisors LLC Raises Stock Position in GE Aerospace (NYSE:GE)

Transcend Capital Advisors LLC raised its stake in shares of GE Aerospace (NYSE:GE) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,199 shares of the company’s stock after purchasing an additional 1,215 shares during the period. Transcend Capital Advisors LLC’s holdings in GE Aerospace were worth $2,242,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of GE Aerospace during the 4th quarter worth about $2,375,439,000. GAMMA Investing LLC raised its holdings in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. lifted its position in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter worth approximately $194,208,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at GE Aerospace

In other news, 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 sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

GE Aerospace stock opened at $254.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $228.63 and a 200 day moving average price of $202.77. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $260.55. The stock has a market cap of $271.39 billion, a P/E ratio of 39.58, a PEG ratio of 3.03 and a beta of 1.38.

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

GE Aerospace Dividend Announcement

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 0.57%. GE Aerospace’s dividend payout ratio (DPR) is 22.40%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GE shares. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Citigroup cut 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $221.15.

GE Aerospace 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.