Rik Saylor Financial Inc. Boosts Position in GE Aerospace (NYSE:GE)

by · The Cerbat Gem

Rik Saylor Financial Inc. grew its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 31.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,760 shares of the company’s stock after buying an additional 659 shares during the period. Rik Saylor Financial Inc.’s holdings in GE Aerospace were worth $552,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GE. Truvestments Capital LLC lifted its stake in shares of GE Aerospace by 26.2% during the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after purchasing an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its position in shares of GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock worth $56,000 after buying an additional 50 shares during the period. Ballast Advisors LLC raised its position in shares of GE Aerospace by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after buying an additional 51 shares during the period. First Pacific Financial raised its position in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the period. Finally, First Heartland Consultants Inc. raised its position in shares of GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock worth $789,000 after buying an additional 54 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction 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 sale, the vice president directly owned 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

Shares of GE stock opened at $252.59 on Friday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55. The firm’s 50 day moving average is $238.22 and its 200-day moving average is $207.94. The firm has a market capitalization of $269.36 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 3.02 and a beta of 1.37. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

GE Aerospace (NYSE:GE – Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 0.57%. GE Aerospace’s dividend payout ratio is presently 22.40%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup lowered their price target on GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. 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 target on GE Aerospace and gave the company an “outperform” rating in a report on Tuesday, June 3rd. Wells Fargo & Company increased their price target on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, UBS Group raised their target price on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.75.

Check Out Our Latest Analysis on GE

GE Aerospace Company Profile

(Free Report)

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.

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