Allium Financial Advisors LLC Purchases New Position in GE Aerospace (NYSE:GE)

Key Points

• Allium Financial Advisors LLC has invested approximately $287,000 in GE Aerospace, purchasing a total of 1,434 shares in the first quarter.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding expectations by $0.23, with a revenue of $10.15 billion.
• Barclays upgraded their price objective for GE Aerospace from $230.00 to $295.00, reflecting an overall positive outlook, with eleven analysts rating it as a "buy."

Allium Financial Advisors LLC acquired a new position in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,434 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the 1st quarter valued at $28,000. Copia Wealth Management boosted 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 valued at $29,000 after acquiring an additional 142 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 84 shares during the last quarter. O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace during the 1st quarter valued at $33,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the 4th quarter valued at $28,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. UBS Group increased their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company increased their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

GE stock traded down $0.39 during midday trading on Tuesday, reaching $270.22. The stock had a trading volume of 1,788,083 shares, compared to its average volume of 6,217,674. The stock has a market cap of $286.55 billion, a PE ratio of 37.66, a P/E/G ratio of 3.11 and a beta of 1.37. 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 firm has a fifty day simple moving average of $249.09 and a two-hundred day simple moving average of $216.28. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $273.80.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, equities research analysts anticipate 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 was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend 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.