GE Aerospace (NYSE:GE) is Grandfield & Dodd LLC’s 4th Largest Position

Grandfield & Dodd LLC raised its position in shares of GE Aerospace (NYSE:GE) by 0.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,570 shares of the company’s stock after buying an additional 142 shares during the quarter. GE Aerospace comprises approximately 3.4% of Grandfield & Dodd LLC’s portfolio, making the stock its 4th biggest position. Grandfield & Dodd LLC’s holdings in GE Aerospace were worth $54,555,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of GE Aerospace by 5.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 93,651 shares of the company’s stock worth $18,744,000 after purchasing an additional 4,672 shares during the last quarter. Parcion Private Wealth LLC raised its position in shares of GE Aerospace by 108.3% in the 1st quarter. Parcion Private Wealth LLC now owns 4,341 shares of the company’s stock worth $869,000 after purchasing an additional 2,257 shares during the last quarter. BIP Wealth LLC raised its position in shares of GE Aerospace by 28.5% in the 1st quarter. BIP Wealth LLC now owns 1,847 shares of the company’s stock worth $370,000 after purchasing an additional 410 shares during the last quarter. Bridgewater Advisors Inc. purchased a new position in shares of GE Aerospace in the 1st quarter worth about $768,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in GE Aerospace by 13.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 8,638 shares of the company’s stock worth $1,729,000 after buying an additional 1,028 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 other 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 transaction of $321,473.34. Following the transaction, the senior vice president directly owned 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated Thursday, April 24th. The shares were 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 approximately $2,270,264.20. The trade was a 26.23% 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 Trading Up 1.0%

GE Aerospace stock opened at $264.89 on Wednesday. The business has a 50-day simple moving average of $241.36 and a two-hundred day simple moving average of $210.06. The company has a market cap of $282.48 billion, a P/E ratio of 41.20, a P/E/G ratio of 3.14 and a beta of 1.37. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $265.60. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Analysts predict that GE Aerospace will post 5.4 EPS for the current 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 given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.54%. GE Aerospace’s payout ratio is currently 22.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. UBS Group lifted their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. 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 reiterated a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday. Finally, Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Two 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.50.

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.