Parcion Private Wealth LLC Has $869,000 Stake in GE Aerospace (NYSE:GE)

Parcion Private Wealth LLC boosted its holdings in shares of GE Aerospace (NYSE:GE) by 108.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,341 shares of the company’s stock after buying an additional 2,257 shares during the quarter. Parcion Private Wealth LLC’s holdings in GE Aerospace were worth $869,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GE. New Age Alpha Advisors LLC grew its position 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 valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $28,000. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $28,000. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its position in shares of GE Aerospace by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Stock Up 1.0%

Shares of GE opened at $264.89 on Wednesday. The stock has a market cap of $282.48 billion, a price-to-earnings ratio of 41.20, a P/E/G ratio of 3.14 and a beta of 1.37. 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 has a 12 month low of $150.20 and a 12 month high of $265.60. The company has a 50-day moving average price of $241.36 and a two-hundred day moving average price of $210.06.

GE Aerospace (NYSE:GE) last announced its quarterly 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. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.54%. GE Aerospace’s dividend payout ratio (DPR) is currently 22.40%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. UBS Group increased their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada set a $275.00 target price on shares of GE Aerospace and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Wells Fargo & Company increased their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Citigroup reiterated a “buy” rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $229.50.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the firm’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 value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’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 of the company’s stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.