Benjamin Edwards Inc. Buys 2,754 Shares of GE Aerospace (NYSE:GE)

Key Points

• Benjamin Edwards Inc. increased its stake in GE Aerospace by 15.2% in the first quarter, acquiring an additional 2,754 shares, bringing their total holdings to 20,865 shares valued at $4.176 million.
• Analysts have raised target prices for GE Aerospace significantly, with Barclays increasing its target from $230 to $295 and UBS lifting it from $300 to $321, reflecting a strong outlook for the company.
• GE Aerospace reported an earnings per share of $1.66 for the quarter, exceeding estimates by $0.23, with revenues reaching $10.15 billion, up 21.2% year-over-year.

Benjamin Edwards Inc. grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 15.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,865 shares of the company's stock after buying an additional 2,754 shares during the period. Benjamin Edwards Inc.'s holdings in GE Aerospace were worth $4,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace during the fourth quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management raised its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. First Pacific Financial raised its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the 1st quarter valued at approximately $33,000. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

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

GE Aerospace Stock Up 1.1%

NYSE:GE opened at $274.95 on Monday. 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 has a twelve month low of $159.36 and a twelve month high of $277.18. The stock's 50 day moving average price is $255.31 and its two-hundred day moving average price is $221.88. The firm has a market capitalization of $291.57 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last issued its 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 return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the company posted $1.20 EPS. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts expect that GE Aerospace will post 5.4 earnings per share 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 paid 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.