King Wealth Management Group Sells 141 Shares of GE Aerospace (NYSE:GE)

King Wealth Management Group lowered its stake in shares of GE Aerospace (NYSE:GE) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,979 shares of the company’s stock after selling 141 shares during the period. King Wealth Management Group’s holdings in GE Aerospace were worth $596,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GE. Ritter Daniher Financial Advisory LLC DE grew its holdings in GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock valued at $56,000 after buying an additional 50 shares in the last quarter. Hudock Inc. grew its holdings in shares of GE Aerospace by 1.8% during the 1st quarter. Hudock Inc. now owns 2,905 shares of the company’s stock worth $582,000 after purchasing an additional 50 shares in the last quarter. First Pacific Financial grew its holdings in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in shares of GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock worth $789,000 after purchasing an additional 54 shares in the last quarter. Finally, Motco grew its holdings in shares of GE Aerospace by 18.5% during the 1st quarter. Motco now owns 353 shares of the company’s stock worth $71,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 1.1%

GE opened at $273.19 on Thursday. The business has a 50 day simple moving average of $250.58 and a two-hundred day simple moving average of $217.05. The firm has a market capitalization of $289.70 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.91 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a one year low of $150.20 and a one year high of $273.80.

GE Aerospace (NYSE:GE) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The business’s revenue was up 21.2% compared to the same quarter last year. Analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace’s dividend payout ratio is 20.08%.

Analyst Ratings Changes

Several analysts have recently issued reports on GE shares. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Citigroup restated a “buy” rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average target price of $232.92.

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.