Abbot Financial Management Inc. Invests $206,000 in GE Aerospace (NYSE:GE)

Key Points

• Abbot Financial Management Inc. has established a new position in GE Aerospace, acquiring 1,028 shares valued at approximately $206,000 during the first quarter.
• Multiple institutional investors are increasing their stakes in GE Aerospace, with notable increases such as Sendero Wealth Management LLC, which raised its position by 526.6% to 15,008 shares valued at $3,004,000.
• GE Aerospace recently announced a quarterly dividend of $0.36 per share, translating to an annualized dividend of $1.44 and a dividend yield of 0.53%.

Abbot Financial Management 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 filing with the Securities and Exchange Commission. The firm acquired 1,028 shares of the company's stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Age Alpha Advisors LLC grew its position in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace during the fourth quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the first quarter worth approximately $28,000. Finally, Copia Wealth Management increased its stake 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 acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Citigroup reissued a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have issued 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 Trading Down 0.9%

Shares of GE Aerospace stock traded down $2.55 on Thursday, hitting $271.00. The stock had a trading volume of 2,141,288 shares, compared to its average volume of 6,194,727. The stock has a 50 day moving average of $250.58 and a 200 day moving average of $217.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $274.94. The firm has a market capitalization of $287.38 billion, a P/E ratio of 37.77, a PEG ratio of 2.91 and a beta of 1.37.

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 the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during 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 company's revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. Sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's payout ratio is currently 20.08%.

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.