Fox Hill Wealth Management Purchases Shares of 1,958 GE Aerospace (NYSE:GE)

Key Points

• Fox Hill Wealth Management acquired 1,958 shares of GE Aerospace, valued at approximately $392,000, during the first quarter.
• GE Aerospace reported earnings of $1.66 EPS for the last quarter, surpassing estimates by $0.23, with revenue increasing 21.2% year-over-year.
• The company declared a quarterly dividend of $0.36, representing an annualized rate of $1.44 and a dividend yield of 0.5%.

Fox Hill Wealth Management bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,958 shares of the company's stock, valued at approximately $392,000.

A number of other large investors have also bought and sold shares of the business. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the first quarter valued at $28,000. Copia Wealth Management lifted its holdings in 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 during the last quarter. O Brien Wealth Partners LLC acquired a new stake in GE Aerospace during the 1st quarter valued at $33,000. First Pacific Financial lifted its holdings in 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 during the last quarter. Finally, POM Investment Strategies LLC lifted its holdings in 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 during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Trading Up 0.4%

Shares of NYSE:GE traded up $1.00 during midday trading on Thursday, hitting $269.86. 4,476,768 shares of the stock were exchanged, compared to its average volume of 6,083,745. The stock has a market capitalization of $286.17 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 3.01 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 business's 50-day moving average price is $256.84 and its 200 day moving average price is $223.15. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50.

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

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GE shares. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $232.92.

About GE Aerospace

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.