895 Shares in GE Aerospace $GE Bought by Wingate Wealth Advisors Inc.

Key Points

• Wingate Wealth Advisors Inc. purchased 895 shares of GE Aerospace, valued at approximately $230,000, in the 2nd quarter, signaling continued interest from institutional investors in the company.
• GE Aerospace reported a strong earnings quarter with $1.66 EPS, exceeding analysts' expectations of $1.43, and recorded a revenue of $10.15 billion, reflecting a 21.2% increase year-over-year.
• The company announced a quarterly dividend of $0.36 per share, with a dividend yield of 0.5%, set to be paid on October 27th to stockholders of record on September 29th.

Wingate Wealth Advisors Inc. bought a new position in GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 895 shares of the company's stock, valued at approximately $230,000.

Several other hedge funds also recently bought and sold shares of GE. Brighton Jones LLC boosted its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its holdings in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after buying an additional 150 shares during the period. GAMMA Investing LLC boosted its holdings in GE Aerospace by 18.5% in the 1st quarter. GAMMA Investing LLC now owns 25,311 shares of the company's stock worth $5,066,000 after buying an additional 3,946 shares during the period. LongView Wealth Management purchased a new stake in GE Aerospace in the 1st quarter worth $285,000. Finally, Avior Wealth Management LLC lifted its stake in GE Aerospace by 4.8% in the 1st quarter. Avior Wealth Management LLC now owns 11,188 shares of the company's stock worth $2,239,000 after purchasing an additional 517 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.3%

Shares of NYSE GE opened at $300.60 on Friday. The firm's 50-day moving average price is $286.07 and its 200-day moving average price is $250.77. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $318.77 billion, a price-to-earnings ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (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 analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

GE has been the topic of several research analyst reports. Zacks Research cut shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wolfe Research boosted their price target on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Barclays boosted their price target 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, Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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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