Commonwealth Equity Services LLC Increases Holdings in GE Aerospace (NYSE:GE)

Commonwealth Equity Services LLC lifted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 394,028 shares of the company's stock after purchasing an additional 12,011 shares during the quarter. Commonwealth Equity Services LLC's holdings in GE Aerospace were worth $78,865,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace in the first quarter worth about $203,000. Sendero Wealth Management LLC increased its holdings in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after acquiring an additional 12,613 shares during the period. Concurrent Investment Advisors LLC lifted its stake 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. Global Assets Advisory LLC lifted its stake 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. Finally, Invesco Ltd. boosted its holdings in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group lifted their price target 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, Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Down 0.6%

GE stock opened at $269.49 on Monday. The company has a market capitalization of $285.78 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a one year low of $150.20 and a one year high of $274.94. The company's 50 day moving average price is $252.13 and its two-hundred day moving average price is $218.91.

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, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 EPS. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. 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%.

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.

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