Bridgefront Capital LLC Makes New $277,000 Investment in GE Aerospace (NYSE:GE)

Bridgefront Capital LLC bought a new stake in GE Aerospace (NYSE:GE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,662 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bulltick Wealth Management LLC bought a new position in shares of GE Aerospace during the 4th quarter worth about $908,000. Captrust Financial Advisors lifted its stake in GE Aerospace by 6.5% during the fourth quarter. Captrust Financial Advisors now owns 71,594 shares of the company’s stock worth $11,941,000 after purchasing an additional 4,350 shares during the period. Cary Street Partners Financial LLC acquired a new stake in GE Aerospace during the fourth quarter valued at approximately $655,000. Castlekeep Investment Advisors LLC acquired a new position in shares of GE Aerospace in the 4th quarter worth approximately $1,725,000. Finally, Brown Advisory Inc. lifted its position in shares of GE Aerospace by 3.6% during the 4th quarter. Brown Advisory Inc. now owns 6,097,319 shares of the company’s stock worth $1,016,972,000 after buying an additional 213,954 shares during the period. 74.77% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This trade represents a 15.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the company’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 now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. The trade was a 26.23 % decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Bank of America lifted their price target on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of GE Aerospace in a research note on Wednesday, April 23rd. Redburn Atlantic assumed coverage on shares of GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Finally, UBS Group increased their price target on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Trading Up 0.6 %

GE stock opened at $209.90 on Thursday. The business has a fifty day moving average of $194.66 and a 200-day moving average of $187.47. The company has a market cap of $223.83 billion, a P/E ratio of 35.04, a PEG ratio of 2.59 and a beta of 1.31. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $214.21. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last released its 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. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a dividend of $0.36 per share. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. GE Aerospace’s payout ratio is presently 22.40%.

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.