Concurrent Investment Advisors LLC Boosts Stake in GE Aerospace (NYSE:GE)

Concurrent Investment Advisors LLC raised its holdings in GE Aerospace (NYSE:GE) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,039 shares of the company’s stock after acquiring an additional 8,245 shares during the period. Concurrent Investment Advisors LLC’s holdings in GE Aerospace were worth $8,065,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GE. Truvestments Capital LLC increased its position in shares of GE Aerospace by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after purchasing an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake 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 worth $56,000 after buying an additional 50 shares in the last quarter. Ballast Advisors LLC increased its holdings in shares of GE Aerospace by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after buying an additional 51 shares during the last quarter. First Pacific Financial increased its holdings in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the last quarter. Finally, First Heartland Consultants Inc. raised its position 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 valued at $789,000 after buying an additional 54 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president directly owned 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 0.8%

NYSE GE opened at $246.78 on Friday. The firm has a market cap of $263.16 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55. The stock has a 50-day moving average of $234.38 and a 200-day moving average of $205.62. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

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

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.58%. GE Aerospace’s dividend payout ratio is currently 22.40%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GE shares. Wells Fargo & Company upped their target price 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. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Citigroup reduced their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.75.

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.