Cetera Investment Advisers Increases Stake in GE Aerospace (NYSE:GE)

Cetera Investment Advisers boosted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 270,360 shares of the company's stock after purchasing an additional 8,078 shares during the quarter. Cetera Investment Advisers' holdings in GE Aerospace were worth $54,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Avantax Advisory Services Inc. boosted its holdings in shares of GE Aerospace by 8.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 46,558 shares of the company's stock valued at $9,319,000 after acquiring an additional 3,712 shares during the last quarter. Tufton Capital Management boosted its holdings in shares of GE Aerospace by 21.3% during the 1st quarter. Tufton Capital Management now owns 2,425 shares of the company's stock valued at $486,000 after acquiring an additional 425 shares during the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of GE Aerospace during the 1st quarter valued at about $586,000. Morling Financial Advisors LLC purchased a new stake in shares of GE Aerospace during the 1st quarter valued at about $349,000. Finally, Lifeworks Advisors LLC boosted its holdings in shares of GE Aerospace by 36.8% during the 1st quarter. Lifeworks Advisors LLC now owns 2,534 shares of the company's stock valued at $507,000 after acquiring an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GE. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group raised their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Price Performance

NYSE GE opened at $271.28 on Friday. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.83. The stock has a market cap of $287.67 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37. The company's 50 day moving average is $248.37 and its two-hundred day moving average is $215.00. The company has a current ratio of 1.04, a quick ratio of 0.73 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 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the business earned $1.20 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio is currently 20.08%.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by 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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

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.