Beacon Investment Advisory Services Inc. Takes Position in GE Aerospace (NYSE:GE)

Beacon Investment Advisory Services Inc. purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,219 shares of the company's stock, valued at approximately $244,000.

A number of other institutional investors also recently bought and sold shares of the business. Rainey & Randall Wealth Advisors Inc. purchased a new stake in GE Aerospace in the 1st quarter worth approximately $203,000. Sendero Wealth Management LLC boosted its position in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. National Bank of Canada FI boosted its position in GE Aerospace by 2.9% in the 4th quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock worth $177,535,000 after purchasing an additional 29,844 shares in the last quarter. Finally, Global Assets Advisory LLC boosted its position in GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of NYSE GE traded up $3.27 during midday trading on Friday, hitting $271.28. The stock had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. The company has a market capitalization of $287.67 billion, a PE ratio of 37.84, a P/E/G ratio of 3.11 and a beta of 1.37. The stock has a 50 day simple moving average of $248.37 and a 200-day simple moving average of $215.30. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $272.83. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

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

GE Aerospace Announces Dividend

The business also recently declared 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 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GE shares. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada boosted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This represents 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. 0.21% of the stock is owned by company insiders.

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.