JFG Wealth Management LLC Acquires New Shares in GE Aerospace (NYSE:GE)

Key Points

• JFG Wealth Management LLC acquired 1,244 shares of GE Aerospace valued at approximately $249,000 during the first quarter.
• GE Aerospace reported earnings of $1.66 per share, exceeding analysts' expectations of $1.43, contributing to a 21.2% year-over-year revenue increase to $10.15 billion.
• The company's recent quarterly dividend payment was $0.36 per share, reflecting a 0.5% annual yield with a payout ratio of 20.08%.

JFG Wealth Management LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,244 shares of the company's stock, valued at approximately $249,000.

A number of other large investors also recently modified their holdings of the company. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the 1st quarter worth about $203,000. Sendero Wealth Management LLC raised its position in shares of GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after acquiring an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares during the period. Global Assets Advisory LLC boosted its holdings in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,580 shares during the last quarter. Finally, Leisure Capital Management acquired a new stake in GE Aerospace during the 1st quarter valued at approximately $222,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $4.84 during trading hours on Tuesday, hitting $280.04. 2,030,926 shares of the company's stock traded hands, compared to its average volume of 6,073,258. The company has a fifty day simple moving average of $255.87 and a 200-day simple moving average of $222.43. 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 stock has a market capitalization of $296.96 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 2.96 and a beta of 1.44. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $280.54.

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

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given 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 is currently 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.