985 Shares in GE Aerospace $GE Bought by Omnia Family Wealth LLC

Key Points

• Omnia Family Wealth LLC acquired 985 shares of GE Aerospace, valued at approximately $254,000, marking a new position for the fund in the company's stock.
• GE Aerospace reported $1.66 earnings per share (EPS) for the last quarter, exceeding analysts' estimates by $0.23, with a revenue of $10.15 billion, up 21.2% from the previous year.
• The company will issue a $0.36 quarterly dividend on October 27th, representing an annual yield of 0.5% and a payout ratio of 20.08%.

Omnia Family Wealth LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 985 shares of the company's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the 1st quarter worth about $28,000. Copia Wealth Management lifted its position in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares in the last quarter. Nova Wealth Management Inc. bought a new stake in GE Aerospace during the 1st quarter worth about $29,000. Wealth Preservation Advisors LLC bought a new stake in GE Aerospace during the 1st quarter worth about $30,000. Finally, First Pacific Financial lifted its position in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

NYSE GE opened at $300.49 on Thursday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a 50-day simple moving average of $285.00 and a 200 day simple moving average of $249.07. 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 company has a market capitalization of $318.65 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

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

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Jefferies Financial Group increased their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Citigroup reissued a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Zacks Research lowered shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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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