AlphaCore Capital LLC Boosts Stake in GE Aerospace (NYSE:GE)

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 boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 103.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,333 shares of the company's stock after purchasing an additional 8,815 shares during the period. AlphaCore Capital LLC's holdings in GE Aerospace were worth $3,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rainey & Randall Wealth Advisors Inc. purchased a new position in GE Aerospace in the 1st quarter valued at approximately $203,000. Sendero Wealth Management LLC raised its stake in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after acquiring an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Global Assets Advisory LLC boosted its holdings in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Leisure Capital Management acquired a new position in GE Aerospace during the 1st quarter worth $222,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on GE. Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Down 0.1%

Shares of NYSE:GE opened at $271.89 on Friday. The firm has a 50 day simple moving average of $254.73 and a 200-day simple moving average of $220.90. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $277.00. 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 company has a market capitalization of $288.33 billion, a PE ratio of 37.92, a P/E/G ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business earned $1.20 EPS. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend 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.

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