Sage Mountain Advisors LLC Buys 747 Shares of GE Aerospace (NYSE:GE)

Sage Mountain Advisors LLC grew its stake in shares of GE Aerospace (NYSE:GE) by 15.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 5,589 shares of the company’s stock after acquiring an additional 747 shares during the period. Sage Mountain Advisors LLC’s holdings in GE Aerospace were worth $1,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. New Age Alpha Advisors LLC increased its holdings in shares of GE Aerospace by 133.3% during 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. bought a new stake in GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace in the 4th quarter worth about $28,000. Copia Wealth Management increased 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 worth $29,000 after buying an additional 142 shares in the last quarter. Finally, Picton Mahoney Asset Management increased its holdings in GE Aerospace by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Up 2.7%

GE Aerospace stock opened at $262.31 on Tuesday. The business has a 50-day simple moving average of $240.24 and a two-hundred day simple moving average of $209.68. The company has a market cap of $279.72 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.06 and a beta of 1.37. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $264.25. 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 (NYSE:GE) last released its quarterly 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. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. Analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors 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 dividend yield of 0.55%. GE Aerospace’s dividend payout ratio (DPR) is presently 22.40%.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 in the company, valued at approximately $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was 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 directly owned 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 disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several research analyst reports. Citigroup lifted their price objective on GE Aerospace from $227.00 to $296.00 and gave the stock a “buy” rating in a report on Monday. 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. Wells Fargo & Company lifted their price objective on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, UBS Group lifted 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. 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.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $229.50.

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.