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

A number of other hedge funds also recently modified their holdings of the business. IMA Advisory Services Inc. bought a new position in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management grew 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 buying an additional 142 shares during the last quarter. O Brien Wealth Partners LLC acquired a new position in shares of GE Aerospace during the first quarter valued at about $33,000. First Pacific Financial boosted its holdings in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Finally, POM Investment Strategies LLC boosted its holdings in GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $2.93 during mid-day trading on Friday, hitting $274.95. The company had a trading volume of 4,378,663 shares, compared to its average volume of 6,157,504. The company has a market capitalization of $291.57 billion, a price-to-earnings ratio of 38.35, a P/E/G ratio of 2.96 and a beta of 1.44. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $277.18. 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's 50-day moving average price is $255.31 and its 200-day moving average price is $221.73.

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. On average, sell-side analysts forecast 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 issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup restated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, UBS Group boosted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

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.