Blue Edge Capital LLC Invests $1.45 Million in GE Aerospace (NYSE:GE)

Key Points

• Blue Edge Capital LLC has invested approximately $1.45 million in GE Aerospace, acquiring 7,231 shares during the first quarter.
• Wall Street analysts are optimistic about GE Aerospace's future, with recent price target increases from several firms, including Royal Bank of Canada and Barclays, raising their targets to $300.00 and $295.00 respectively.
• GE Aerospace recently reported earnings of $1.66 per share, exceeding expectations and showcasing a revenue increase of 21.2% compared to the previous year.

Blue Edge Capital LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,231 shares of the company's stock, valued at approximately $1,447,000.

Several other large investors have also modified their holdings of the stock. Putney Financial Group LLC bought a new position in GE Aerospace in the fourth quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace in the first quarter worth about $28,000. Copia Wealth Management lifted its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the last quarter. First Pacific Financial lifted its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC bought a new position in GE Aerospace in the first quarter worth about $33,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GE shares. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Barclays raised their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Price Performance

NYSE GE opened at $267.62 on Friday. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50. 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 firm has a market capitalization of $283.79 billion, a PE ratio of 37.32, a P/E/G ratio of 2.88 and a beta of 1.44. The company's 50 day simple moving average is $257.44 and its 200 day simple moving average is $224.35.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

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.

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