959 Shares in GE Aerospace $GE Purchased by Northwest Quadrant Wealth Management LLC

Key Points

• Northwest Quadrant Wealth Management LLC acquired 959 shares in GE Aerospace, valued at approximately $247,000, marking a new position in the company in the 2nd quarter.
• GE Aerospace recently reported a quarterly earnings per share (EPS) of $1.66, surpassing analysts' estimates and showing a 21.2% revenue increase year-over-year.
• A quarterly dividend of $0.36 per share has been declared, equating to an annual dividend yield of 0.5%, with payments scheduled for October 27th.

Northwest Quadrant Wealth Management LLC purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 959 shares of the company's stock, valued at approximately $247,000.

Several other institutional investors also recently modified their holdings of GE. GQG Partners LLC bought a new position in shares of GE Aerospace in the 1st quarter worth about $1,606,840,000. Nuveen LLC bought a new stake in GE Aerospace during the 1st quarter valued at about $777,075,000. Amundi increased its stake in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after purchasing an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in GE Aerospace by 7,406.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company's stock valued at $242,624,000 after purchasing an additional 1,196,060 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

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 quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $318.77 billion, a PE ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results 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 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 business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. As a group, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. 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 dividend payout ratio (DPR) is presently 20.08%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GE shares. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Jefferies Financial Group raised their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, TD Cowen raised their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, GE Aerospace presently has an average 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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