Heritage Investors Management Corp Sells 1,158 Shares of GE Aerospace (NYSE:GE)

Heritage Investors Management Corp decreased its stake in GE Aerospace (NYSE:GE) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,170 shares of the company’s stock after selling 1,158 shares during the period. Heritage Investors Management Corp’s holdings in GE Aerospace were worth $4,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its position in GE Aerospace by 3.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 83,526 shares of the company’s stock valued at $16,718,000 after purchasing an additional 3,144 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of GE Aerospace by 222.4% in the first quarter. J.W. Cole Advisors Inc. now owns 45,814 shares of the company’s stock worth $9,170,000 after purchasing an additional 31,603 shares during the last quarter. Signet Investment Advisory Group Inc. bought a new stake in shares of GE Aerospace in the first quarter worth $222,000. BKM Wealth Management LLC raised its position in shares of GE Aerospace by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the company’s stock worth $565,000 after acquiring an additional 72 shares in the last quarter. Finally, Atlantic Union Bankshares Corp grew its position in shares of GE Aerospace by 6.4% during the 1st quarter. Atlantic Union Bankshares Corp now owns 1,667 shares of the company’s stock worth $334,000 after buying an additional 100 shares during the period. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.2%

Shares of GE Aerospace stock opened at $263.49 on Friday. The company has a market cap of $280.98 billion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. The company’s 50 day moving average is $244.37 and its 200 day moving average is $212.06. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $272.80. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. Research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 0.55%. GE Aerospace’s payout ratio is currently 20.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GE shares. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. 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. Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday. Citigroup restated a “buy” rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insiders Place Their Bets

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction dated 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 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. Company insiders own 0.21% of the company’s stock.

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.