Gallo Partners LP purchased a new position in GE Aerospace (NYSE:GE – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,141 shares of the company’s stock, valued at approximately $800,000. GE Aerospace makes up 1.8% of Gallo Partners LP’s holdings, making the stock its 24th largest holding.
Other institutional investors and hedge funds have also bought and sold shares of the company. GSG Advisors LLC grew its position in shares of GE Aerospace by 7.4% during the second quarter. GSG Advisors LLC now owns 1,373 shares of the company’s stock worth $513,000 after purchasing an additional 95 shares in the last quarter. Asset One Wealth Management LLC purchased a new position in GE Aerospace in the 2nd quarter worth approximately $216,000. Cibc World Market Inc. boosted its stake in GE Aerospace by 61.7% in the 2nd quarter. Cibc World Market Inc. now owns 181,125 shares of the company’s stock worth $67,692,000 after purchasing an additional 69,145 shares during the period. OMERS ADMINISTRATION Corp boosted its stake in GE Aerospace by 3.9% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 79,903 shares of the company’s stock worth $29,862,000 after purchasing an additional 2,976 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in GE Aerospace by 3.6% during the 2nd quarter. Sanctuary Advisors LLC now owns 157,023 shares of the company’s stock valued at $58,684,000 after buying an additional 5,455 shares in the last quarter. 74.77% of the stock is owned by institutional investors.
GE Aerospace Stock Performance
NYSE:GE opened at $348.85 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.67. GE Aerospace has a 1 year low of $266.37 and a 1 year high of $388.84. The stock’s 50 day simple moving average is $361.10 and its two-hundred day simple moving average is $326.97. The company has a market cap of $361.95 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 2.54 and a beta of 1.36.
GE Aerospace Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Monday, July 6th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.88 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 22.14%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on GE. Royal Bank Of Canada reiterated an “outperform” rating and set a $400.00 price objective (up from $355.00) on shares of GE Aerospace in a research report on Wednesday, July 15th. Sanford C. Bernstein set a $421.00 target price on shares of GE Aerospace and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Monday, April 27th. UBS Group lifted their price target on shares of GE Aerospace from $426.00 to $435.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Seaport Research Partners initiated coverage on shares of GE Aerospace in a research note on Tuesday, May 26th. They issued a “buy” rating and a $375.00 price target on the stock. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $390.59.
Read Our Latest Analysis on GE Aerospace
Insider Transactions at GE Aerospace
In other GE Aerospace news, SVP Mohamed Ali sold 8,096 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $353.71, for a total transaction of $2,863,636.16. Following the completion of the transaction, the senior vice president owned 20,666 shares in the company, valued at $7,309,770.86. This trade represents a 28.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.
About GE Aerospace
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.
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