GE Aerospace (NYSE:GE) Shares Bought by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC increased its stake in GE Aerospace by 103.5%, owning 17,333 shares valued at approximately $3,469,000.
• Several institutional investors have significantly raised their stakes in GE Aerospace, with Sendero Wealth Management LLC reporting a 526.6% increase in their holdings.
• GE Aerospace's recent earnings report revealed an EPS of $1.66, exceeding estimates by $0.23, and corresponding revenue of $10.15 billion, marking a 21.2% year-over-year increase.

AlphaCore Capital LLC grew its position in shares of GE Aerospace (NYSE:GE - Free Report) by 103.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,333 shares of the company's stock after acquiring an additional 8,815 shares during the period. AlphaCore Capital LLC's holdings in GE Aerospace were worth $3,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GE. Brighton Jones LLC increased its position in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the period. CenterBook Partners LP lifted its stake in shares of GE Aerospace by 25.8% in the fourth quarter. CenterBook Partners LP now owns 12,315 shares of the company's stock worth $2,054,000 after buying an additional 2,526 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of GE Aerospace by 125.4% in the fourth quarter. Scotia Capital Inc. now owns 43,794 shares of the company's stock worth $7,305,000 after buying an additional 24,363 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in shares of GE Aerospace by 11.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 6,805 shares of the company's stock worth $1,135,000 after buying an additional 689 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GE. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note 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 note on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, UBS Group raised 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 investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

Shares of GE traded up $0.21 during trading hours on Monday, hitting $275.22. The stock had a trading volume of 1,178,183 shares, compared to its average volume of 6,085,635. The firm has a market capitalization of $291.85 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.96 and a beta of 1.44. The firm has a 50-day moving average price of $255.31 and a 200 day moving average price of $221.88. 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 fifty-two week low of $159.36 and a fifty-two week high of $277.18.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results 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 analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 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.