GE Aerospace (NYSE:GE) Shares Bought by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lifted its position in shares of GE Aerospace (NYSE:GE) by 6.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,808 shares of the company’s stock after buying an additional 163 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in GE Aerospace were worth $561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Vanguard Group Inc. grew its holdings in GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock valued at $14,980,297,000 after buying an additional 410,172 shares during the period. FMR LLC grew its holdings in GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after buying an additional 965,012 shares during the period. Geode Capital Management LLC grew its holdings in GE Aerospace by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after buying an additional 529,457 shares during the period. Norges Bank purchased a new stake in GE Aerospace in the 4th quarter valued at about $2,375,439,000. Finally, Northern Trust Corp grew its holdings in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after buying an additional 553,104 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Trading Down 0.8%

Shares of NYSE GE opened at $261.23 on Monday. The business has a 50-day moving average price of $244.37 and a two-hundred day moving average price of $212.37. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a one year low of $150.20 and a one year high of $272.80. The firm has a market capitalization of $278.57 billion, a PE ratio of 36.33, a PEG ratio of 3.05 and a beta of 1.37.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company 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 0.55%. GE Aerospace’s dividend payout ratio is presently 20.08%.

Insider Buying and Selling

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares in the company, valued at $2,270,264.20. This trade represents a 26.23% 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group boosted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, Citigroup reaffirmed a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

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.