Vickerman Investment Advisors Inc. Makes New Investment in GE Aerospace (NYSE:GE)

Vickerman Investment Advisors Inc. purchased a new position in shares of GE Aerospace (NYSE:GE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,551 shares of the company’s stock, valued at approximately $1,111,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Norges Bank bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $2,375,439,000. GAMMA Investing LLC boosted its stake in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Janus Henderson Group PLC boosted its stake in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after purchasing an additional 1,673,365 shares during the period. Invesco Ltd. boosted its stake in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in GE Aerospace in the 4th quarter valued at $194,208,000. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on GE. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citigroup reduced their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Northcoast Research downgraded 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 GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.75.

Insiders Place Their Bets

In related news, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president directly owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on 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 transaction, the senior vice president owned 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. 0.21% of the stock is owned by company insiders.

GE Aerospace Price Performance

Shares of GE opened at $246.78 on Friday. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $260.55. The business’s fifty day moving average is $234.38 and its 200 day moving average is $205.94. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The stock has a market cap of $263.16 billion, a P/E ratio of 38.38, a P/E/G ratio of 2.98 and a beta of 1.37.

GE Aerospace (NYSE:GE) last issued its 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. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.06 billion. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

About GE Aerospace

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.