Logan Capital Management Inc. Sells 82 Shares of GE Aerospace (NYSE:GE)

Logan Capital Management Inc. trimmed its position in GE Aerospace (NYSE:GE) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,136 shares of the company’s stock after selling 82 shares during the period. Logan Capital Management Inc.’s holdings in GE Aerospace were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC raised its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in GE Aerospace during the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in GE Aerospace during the fourth quarter valued at $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Bank of America upped their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Citigroup reduced their target price on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Northcoast Research raised GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, UBS Group raised their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $216.92.

GE Aerospace Price Performance

Shares of GE stock opened at $218.73 on Tuesday. The company has a market capitalization of $233.25 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm’s 50-day moving average is $195.56 and its two-hundred day moving average is $188.25. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $219.98.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 10th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace 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 transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president now directly owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.