CMG Global Holdings LLC Increases Holdings in GE Aerospace $GE

Key Points

• CMG Global Holdings LLC increased its stake in GE Aerospace by 49.5% during Q2, making it the firm's 10th largest investment with shares valued at approximately $5 million.
• Analysts are optimistic about GE Aerospace, with 15 research analysts rating it "Buy" and recent price target upgrades raising expectations for the stock significantly.
• GE Aerospace reported a strong quarterly performance with earnings of $1.66 per share, beating estimates and achieving a revenue of $10.15 billion, a 21.2% increase from the previous year.

CMG Global Holdings LLC increased its stake in GE Aerospace (NYSE:GE - Free Report) by 49.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,497 shares of the company's stock after purchasing an additional 6,126 shares during the quarter. GE Aerospace makes up approximately 2.7% of CMG Global Holdings LLC's investment portfolio, making the stock its 10th biggest position. CMG Global Holdings LLC's holdings in GE Aerospace were worth $5,005,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of GE. Brighton Jones LLC raised its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its holdings in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC raised its holdings in GE Aerospace by 18.5% in the 1st quarter. GAMMA Investing LLC now owns 25,311 shares of the company's stock worth $5,066,000 after purchasing an additional 3,946 shares during the period. Advisor Resource Council bought a new position in GE Aerospace in the 1st quarter worth $549,000. Finally, Appleton Partners Inc. MA raised its holdings in GE Aerospace by 14.7% in the 1st quarter. Appleton Partners Inc. MA now owns 4,269 shares of the company's stock worth $855,000 after purchasing an additional 547 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on GE Aerospace from $300.00 to $340.00 and gave the company an "outperform" rating in a report on Friday. Sanford C. Bernstein raised their price target on GE Aerospace from $343.00 to $374.00 and gave the company an "outperform" rating in a report on Wednesday, October 15th. Wall Street Zen cut GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price target on GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, October 10th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $276.31.

GE Aerospace Trading Up 0.3%

Shares of GE Aerospace stock opened at $300.60 on Monday. The firm has a market cap of $318.77 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. The business has a 50-day moving average price of $286.07 and a 200-day moving average price of $251.22. 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 $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates 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. Equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

GE Aerospace Company 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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