Sather Financial Group Inc Takes $242,000 Position in GE Aerospace (NYSE:GE)

Sather Financial Group Inc purchased a new position in shares of GE Aerospace (NYSE:GE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,207 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also bought and sold shares of the business. Angeles Wealth Management LLC increased its holdings in GE Aerospace by 2.2% during the first quarter. Angeles Wealth Management LLC now owns 3,352 shares of the company’s stock worth $671,000 after buying an additional 72 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of GE Aerospace by 6,324.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 9,637 shares of the company’s stock valued at $1,929,000 after acquiring an additional 9,487 shares during the period. First Heartland Consultants Inc. grew its position in shares of GE Aerospace by 1.6% during the 1st quarter. First Heartland Consultants Inc. now owns 4,806 shares of the company’s stock valued at $962,000 after acquiring an additional 77 shares during the period. J.P. Marvel Investment Advisors LLC increased its stake in shares of GE Aerospace by 6.6% during the 1st quarter. J.P. Marvel Investment Advisors LLC now owns 31,330 shares of the company’s stock worth $6,271,000 after purchasing an additional 1,947 shares during the last quarter. Finally, Stevens Capital Management LP raised its holdings in shares of GE Aerospace by 59.4% in the 1st quarter. Stevens Capital Management LP now owns 6,635 shares of the company’s stock worth $1,328,000 after purchasing an additional 2,473 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GE has been the subject of several research reports. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank Of Canada increased their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. 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, July 14th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $232.92.

GE Aerospace Trading Up 1.2%

Shares of GE Aerospace stock opened at $271.28 on Friday. The company’s 50-day moving average price is $248.37 and its 200-day moving average price is $215.00. 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 12-month low of $150.20 and a 12-month high of $272.83. The company has a market cap of $287.67 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the company posted $1.20 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace’s dividend payout ratio is 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 dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

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.