Financial Counselors Inc. Acquires 708 Shares of GE Aerospace (NYSE:GE)

Financial Counselors Inc. grew its holdings in GE Aerospace (NYSE:GE) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 33,414 shares of the company’s stock after purchasing an additional 708 shares during the period. Financial Counselors Inc.’s holdings in GE Aerospace were worth $6,688,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 410,172 shares during the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 529,457 shares during the last quarter. Norges Bank bought a new position in shares of GE Aerospace in the 4th quarter valued at about $2,375,439,000. Finally, Northern Trust Corp boosted its stake in shares of 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 purchasing an additional 553,104 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction dated 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 transaction, the vice president owned 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the senior vice president directly owned 8,805 shares of the company’s stock, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GE shares. Royal Bank Of Canada set a $275.00 price objective on shares of GE Aerospace and gave the stock an “outperform” rating in a research note on Tuesday, June 3rd. Citigroup reduced their price objective on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.75.

GE Aerospace Price Performance

NYSE GE opened at $248.91 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $260.55. The company has a market capitalization of $265.44 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.37. The firm’s 50 day moving average is $235.34 and its 200-day moving average is $206.79.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data 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 17.63% and a return on equity of 29.15%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. Equities research analysts anticipate 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 will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

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.