Earned Wealth Advisors LLC Has $853,000 Position in GE Aerospace (NYSE:GE)

Key Points

• Earned Wealth Advisors LLC increased its stake in GE Aerospace by 67.8% during the first quarter, holding shares valued at $853,000 as of their latest SEC filing.
• GE Aerospace reported a strong quarterly earnings of $1.66 per share, surpassing estimates of $1.43, and achieving a revenue of $10.15 billion, reflecting a 21.2% year-over-year growth.
• Multiple analysts have upgraded their price targets for GE Aerospace, with Barclays raising it from $230 to $295, reflecting confidence in the company's performance.

Earned Wealth Advisors LLC raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 67.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,263 shares of the company's stock after buying an additional 1,723 shares during the quarter. Earned Wealth Advisors LLC's holdings in GE Aerospace were worth $853,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. New Age Alpha Advisors LLC raised its stake in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace in the 4th quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the 1st quarter valued at $28,000. Finally, Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Trading Down 0.6%

NYSE GE opened at $269.49 on Friday. The business has a 50 day simple moving average of $252.13 and a 200 day simple moving average of $218.64. GE Aerospace has a one year low of $150.20 and a one year high of $274.94. The stock has a market capitalization of $285.78 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results 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 company had revenue of $10.15 billion for 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 company's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GE shares. Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Wells Fargo & Company upped their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, UBS Group upped 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. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $232.92.

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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