Avantax Advisory Services Inc. Acquires 3,712 Shares of GE Aerospace (NYSE:GE)

Key Points

• Avantax Advisory Services Inc. increased its holdings in GE Aerospace by 8.7%, acquiring 3,712 additional shares valued at approximately $9.3 million.
• A number of analysts have upgraded their ratings and price targets for GE Aerospace, with UBS Group raising its target from $300 to $321 and maintaining a "buy" rating.
• GE Aerospace declared a quarterly dividend of $0.36, which represents an annual yield of 0.53%.

Avantax Advisory Services Inc. lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,558 shares of the company's stock after buying an additional 3,712 shares during the period. Avantax Advisory Services Inc.'s holdings in GE Aerospace were worth $9,319,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the first quarter worth about $28,000. Copia Wealth Management grew its stake in shares of 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 during the period. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares in the last quarter. O Brien Wealth Partners LLC bought a new stake in GE Aerospace during the 1st quarter worth approximately $33,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace during the fourth quarter valued at approximately $28,000. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group increased their price objective 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. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday. Barclays raised their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Up 1.2%

NYSE:GE opened at $271.28 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company's fifty day moving average price is $248.37 and its 200-day moving average price is $215.30. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.83. The firm has a market capitalization of $287.67 billion, a P/E ratio of 37.84, a PEG ratio of 3.11 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data 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 return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The business's quarterly revenue was up 21.2% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's dividend payout ratio is currently 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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