CFM Wealth Partners LLC Takes Position in GE Aerospace (NYSE:GE)

CFM Wealth Partners LLC acquired a new position in GE Aerospace (NYSE:GE) in the first quarter, HoldingsChannel reports. The fund acquired 1,111 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds also recently added to or reduced their stakes in GE. Vanguard Group Inc. lifted its position in shares of GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the period. FMR LLC raised its stake in GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after buying an additional 965,012 shares in the last quarter. Geode Capital Management LLC lifted its holdings in GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock worth $3,846,587,000 after buying an additional 529,457 shares during the period. Norges Bank purchased a new stake in GE Aerospace during the fourth quarter worth $2,375,439,000. Finally, Northern Trust Corp boosted its position in GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. UBS Group boosted their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Wells Fargo & Company raised their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $223.75.

GE Aerospace Price Performance

Shares of GE stock opened at $254.50 on Friday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $260.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $271.39 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.07 and a beta of 1.38. The stock’s 50-day simple moving average is $228.63 and its 200-day simple moving average is $203.00.

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

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 0.57%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Insider Activity at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 11,540 shares in the company, valued at $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $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 insiders.

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.