3,606 Shares in GE Aerospace (NYSE:GE) Bought by Harfst & Associates Inc.

Key Points

• Harfst & Associates Inc. acquired 3,606 shares of GE Aerospace, valued at approximately $722,000, during the first quarter.
• Several analysts have upgraded GE Aerospace's stock ratings, with target prices raised significantly; Barclays increased their target from $230.00 to $295.00.
• GE Aerospace reported quarterly earnings with an EPS of $1.66, beating estimates, and achieved a revenue of $10.15 billion, up 21.2% year-over-year.

Harfst & Associates Inc. acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,606 shares of the company's stock, valued at approximately $722,000.

Several other hedge funds have also added to or reduced their stakes in GE. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% in 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 period. First Pacific Financial raised 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 valued at $33,000 after purchasing an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GE shares. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays lifted 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. Citigroup reaffirmed 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. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Down 3.8%

GE opened at $269.09 on Thursday. The stock's fifty day simple moving average is $256.84 and its 200 day simple moving average is $223.15. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50. The stock has a market cap of $285.35 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 3.01 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

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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