Leisure Capital Management Takes Position in GE Aerospace (NYSE:GE)

Key Points

• Leisure Capital Management purchased 1,107 shares of GE Aerospace, worth approximately $222,000, during the first quarter.
• GE Aerospace's stock opened at $276.13 and has shown a 2.5% increase, with a market cap of $292.82 billion and a P/E ratio of 38.51.
• The company reported earnings of $1.66 per share, surpassing expectations, and has recently declared a quarterly dividend of $0.36 per share.

Leisure Capital Management acquired a new position in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,107 shares of the company's stock, valued at approximately $222,000.

Several other large investors have also recently modified their holdings of GE. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management lifted its holdings in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares during the period. O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace during the 1st quarter valued at $33,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace in the 4th quarter worth $28,000. Finally, First Pacific Financial increased its stake 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 purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group increased their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

GE stock traded up $2.93 during midday trading on Friday, reaching $274.95. The stock had a trading volume of 3,254,737 shares, compared to its average volume of 6,104,925. The stock has a market cap of $291.57 billion, a PE ratio of 38.35, a P/E/G ratio of 2.93 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The firm has a fifty day simple moving average of $254.73 and a two-hundred day simple moving average of $220.90. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $277.18.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

GE Aerospace 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.