Dover Advisors LLC Buys New Stake in GE Aerospace (NYSE:GE)

Dover Advisors LLC bought a new stake in GE Aerospace (NYSE:GE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,656 shares of the company’s stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Norges Bank acquired a new position in GE Aerospace in the 4th quarter valued at $2,375,439,000. GAMMA Investing LLC raised its holdings in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC raised its holdings in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the last quarter. Invesco Ltd. raised its holdings in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in GE Aerospace in the 4th quarter valued at $194,208,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 1.6%

Shares of GE Aerospace stock opened at $236.07 on Friday. The company has a fifty day moving average price of $216.42 and a 200 day moving average price of $198.24. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $257.47. The stock has a market cap of $251.74 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling at GE Aerospace

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 shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert M. Giglietti sold 4,104 shares of the company’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 transaction, the vice president now directly owns 11,540 shares of the company’s stock, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GE. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Royal Bank of Canada set a $275.00 price objective on GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. UBS Group upped their price objective on GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Citigroup dropped their price objective on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Redburn Atlantic began coverage on GE Aerospace in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.15.

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.