Lansing Street Advisors Grows Stake in GE Aerospace (NYSE:GE)

Lansing Street Advisors increased its stake in shares of GE Aerospace (NYSE:GE) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,909 shares of the company’s stock after purchasing an additional 468 shares during the period. Lansing Street Advisors’ holdings in GE Aerospace were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GE. New Age Alpha Advisors LLC lifted its position in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new position in GE Aerospace in the 4th quarter valued at $28,000. CBIZ Investment Advisory Services LLC purchased a new position in GE Aerospace in the 4th quarter valued at $29,000. Finally, Copia Wealth Management lifted its holdings in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

NYSE:GE opened at $257.34 on Tuesday. The firm has a market capitalization of $274.42 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 3.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. The company’s 50-day moving average is $230.21 and its two-hundred day moving average is $203.91. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $260.55.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. Analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.56%. GE Aerospace’s dividend payout ratio (DPR) is 22.40%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GE shares. Wells Fargo & Company upped their target price on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Citigroup lowered their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. UBS Group increased their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $223.75.

Insider Transactions at GE Aerospace

In related news, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace 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 completion of the transaction, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mohamed Ali sold 1,602 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, 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 disclosure for this sale can be found here. Company 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.