Owen LaRue LLC Reduces Position in GE Aerospace (NYSE:GE)

Owen LaRue LLC cut its stake in shares of GE Aerospace (NYSE:GE) by 12.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,718 shares of the company’s stock after selling 1,051 shares during the period. Owen LaRue LLC’s holdings in GE Aerospace were worth $1,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of GE Aerospace during the 4th quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace during the 4th quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in GE Aerospace in the fourth quarter worth $29,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in GE Aerospace in the fourth quarter worth $29,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GE shares. UBS Group boosted their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of GE Aerospace in a research report on Wednesday, April 23rd. Northcoast Research upgraded shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of GE Aerospace from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Bank of America boosted their price objective on shares of GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.92.

GE Aerospace Price Performance

Shares of GE opened at $200.89 on Tuesday. The stock has a market cap of $214.23 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $214.21. The firm’s 50-day simple moving average is $194.18 and its two-hundred day simple moving average is $186.72.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion for 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%. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Monday, March 10th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s dividend payout ratio is currently 22.40%.

Insider Transactions at GE Aerospace

In other news, 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 value of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.