1,681 Shares in GE Aerospace (NYSE:GE) Bought by Pinnacle Holdings LLC

Key Points

• Pinnacle Holdings LLC has acquired a new position in GE Aerospace, purchasing 1,681 shares valued at approximately $337,000 during the first quarter.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding analysts' expectations of $1.43, with revenue reaching $10.15 billion.
• Analysts have recently revised their price targets for GE Aerospace, with UBS Group raising its target from $300 to $321 and Citigroup increasing its target from $227 to $296, both maintaining a "buy" rating.

Pinnacle Holdings LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,681 shares of the company's stock, valued at approximately $337,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the 1st quarter worth $203,000. Sendero Wealth Management LLC raised its position in GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in 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 purchasing an additional 8,245 shares in the last quarter. Global Assets Advisory LLC grew its stake in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after buying an additional 9,580 shares during the last quarter. Finally, Leisure Capital Management bought a new stake in GE Aerospace during the first quarter worth about $222,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE stock opened at $267.62 on Friday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $281.50. The stock has a market cap of $283.79 billion, a PE ratio of 37.32, a PEG ratio of 2.90 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's 50 day moving average price is $257.44 and its two-hundred day moving average price is $224.17.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analysts Set New Price Targets

Several analysts have weighed in on GE shares. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Citigroup reaffirmed 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. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock 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. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Company 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.

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