Accuvest Global Advisors Makes New Investment in GE Aerospace (NYSE:GE)

Key Points

• Accuvest Global Advisors acquired 1,981 shares of GE Aerospace, valued at approximately $396,000, further highlighting increasing interest from institutional investors, who currently own 74.77% of the stock.
• Wall Street analysts have upgraded GE Aerospace's rating, with Barclays raising its target price to $295.00 and others giving a consensus price target of $232.92, indicating strong confidence in the company's performance.
• GE Aerospace reported a significant earnings growth with $1.66 EPS in their latest quarter, surpassing estimates and achieving a revenue of $10.15 billion, reflecting a 21.2% year-over-year increase.

Accuvest Global Advisors acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,981 shares of the company's stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IMA Advisory Services Inc. bought a new position in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. O Brien Wealth Partners LLC acquired a new position in shares of GE Aerospace during the first quarter worth approximately $33,000. First Pacific Financial lifted its holdings in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, POM Investment Strategies LLC lifted its holdings in shares of GE Aerospace by 1,078.6% in the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 151 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on GE. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price 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. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

GE traded up $4.13 during trading hours on Friday, hitting $276.15. The stock had a trading volume of 350,203 shares, compared to its average volume of 6,090,296. The company's fifty day simple moving average is $254.73 and its 200 day simple moving average is $220.90. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $277.00. 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 stock has a market cap of $292.84 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44.

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

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

About GE Aerospace

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.