Atria Wealth Solutions Inc. Acquires 2,566 Shares of GE Aerospace (NYSE:GE)

Key Points

• Atria Wealth Solutions Inc. increased its holdings in GE Aerospace by 6.0%, owning 45,492 shares worth approximately $9.11 million.
• GE Aerospace reported quarterly earnings of $1.66 EPS, exceeding estimates, with revenue significantly up by 21.2% year over year.
• The company declared a quarterly dividend of $0.36 per share, reflecting an annualized payout of $1.44 and a yield of 0.5%.

Atria Wealth Solutions Inc. lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,492 shares of the company's stock after purchasing an additional 2,566 shares during the period. Atria Wealth Solutions Inc.'s holdings in GE Aerospace were worth $9,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp grew its position in shares of GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after buying an additional 553,104 shares during the period. Canada Pension Plan Investment Board grew its position in shares of GE Aerospace by 11.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after buying an additional 781,574 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of GE Aerospace by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock worth $1,198,382,000 after buying an additional 628,458 shares during the period. Brown Advisory Inc. grew its position in shares of GE Aerospace by 3.6% during the 4th quarter. Brown Advisory Inc. now owns 6,097,319 shares of the company's stock worth $1,016,972,000 after buying an additional 213,954 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Up 1.1%

GE traded up $2.93 during trading on Friday, reaching $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 debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $277.18. The business's fifty day moving average price is $255.31 and its 200 day moving average price is $221.50. The company has a market cap of $291.57 billion, a P/E ratio of 38.35, a PEG ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS 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%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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 report on Wednesday, July 23rd. Citigroup reissued a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada lifted 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. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average price target 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.