NFP Retirement Inc. Makes New Investment in GE Aerospace (NYSE:GE)

Key Points

• NFP Retirement Inc. acquired 1,141 shares of GE Aerospace, valued at approximately $228,000, during the first quarter.
• Analysts have boosted GE Aerospace's target price significantly, with Barclays raising it from $230 to $295 and Citigroup moving its target from $227 to $296, indicating a positive outlook on the stock.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding expectations, with a revenue increase of 21.2% year-over-year.

NFP Retirement Inc. purchased a new position in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,141 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds also recently modified their holdings of GE. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the 1st quarter valued at approximately $28,000. Copia Wealth Management grew its position 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 purchasing an additional 142 shares in the last quarter. O Brien Wealth Partners LLC purchased a new position in shares of GE Aerospace during the 1st quarter valued at $33,000. First Pacific Financial grew its position in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Finally, POM Investment Strategies LLC grew its position in shares of GE Aerospace by 1,078.6% during the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup reaffirmed a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday. Finally, Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 0.8%

GE stock traded down $2.08 during midday trading on Friday, hitting $267.62. The stock had a trading volume of 5,202,309 shares, compared to its average volume of 6,077,222. The business has a 50-day moving average of $257.20 and a two-hundred day moving average of $223.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market cap of $283.79 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 2.89 and a beta of 1.44. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 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.