Conning Inc. Acquires 480 Shares of GE Aerospace (NYSE:GE)

Conning Inc. lifted its stake in GE Aerospace (NYSE:GE) by 8.0% during the first quarter, HoldingsChannel.com reports. The firm owned 6,508 shares of the company’s stock after purchasing an additional 480 shares during the quarter. Conning Inc.’s holdings in GE Aerospace were worth $1,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Age Alpha Advisors LLC raised its stake in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the fourth quarter valued at $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the fourth quarter valued at $28,000. CBIZ Investment Advisory Services LLC purchased a new position in shares of GE Aerospace in the 4th quarter worth about $29,000. Finally, Copia Wealth Management boosted its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on 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. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares of the company’s stock, 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. Insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 0.8%

NYSE:GE opened at $246.78 on Friday. The company has a market cap of $263.16 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 2.95 and a beta of 1.37. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The company has a 50 day simple moving average of $233.42 and a two-hundred day simple moving average of $205.06. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $260.55.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. 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%.

Analyst Upgrades and Downgrades

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

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.