875 Shares in GE Aerospace $GE Bought by Rockbridge Capital Management LLC

Key Points

• Rockbridge Capital Management LLC has acquired 875 shares of GE Aerospace, valued at approximately $225,000, making it the firm's 25th largest holding.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, outperforming analysts' expectations and resulting in a revenue of $10.15 billion.
• The company announced a quarterly dividend of $0.36, with a payout ratio of 20.08%, set to be paid on October 27th.

Rockbridge Capital Management LLC acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 875 shares of the company's stock, valued at approximately $225,000. GE Aerospace comprises approximately 0.1% of Rockbridge Capital Management LLC's portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. grew its position in shares of GE Aerospace by 23.5% in the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company's stock valued at $437,000 after buying an additional 331 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after buying an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace in the 1st quarter valued at about $203,000. Concurrent Investment Advisors LLC grew its position in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after buying an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC grew its position in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after buying an additional 9,580 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.1%

Shares of NYSE:GE opened at $300.49 on Thursday. The company has a market capitalization of $318.65 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 3.23 and a beta of 1.49. 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 business's 50-day moving average is $285.00 and its 200-day moving average is $249.07. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25.

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. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm's revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's payout ratio is currently 20.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GE shares. TD Cowen upped their price target on GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Wells Fargo & Company upped their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, The Goldman Sachs Group upped their price target on GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus price target of $267.13.

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.

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