Empower Advisory Group LLC Purchases 1,101 Shares of GE Aerospace (NYSE:GE)

Key Points

• Empower Advisory Group LLC increased its stake in GE Aerospace by 35.3%, acquiring an additional 1,101 shares in the first quarter, bringing its total holdings to 4,220 shares valued at $845,000.
• GE Aerospace reported a quarterly EPS of $1.66, exceeding analysts' estimates of $1.43, with a revenue of $10.15 billion, up 21.2% year-over-year.
• Several analysts raised their target prices for GE Aerospace, with Royal Bank of Canada setting a new target at $300.00 while UBS Group increased its target to $321.00, resulting in a consensus rating of "Moderate Buy."

Empower Advisory Group LLC lifted its position in GE Aerospace (NYSE:GE - Free Report) by 35.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,220 shares of the company's stock after acquiring an additional 1,101 shares during the quarter. Empower Advisory Group LLC's holdings in GE Aerospace were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GE. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management increased its position in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the period. O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the 1st quarter valued at about $33,000. First Pacific Financial increased its position in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, POM Investment Strategies LLC increased its position in GE Aerospace by 1,078.6% during the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 151 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.1%

GE stock opened at $272.35 on Thursday. The firm has a 50 day moving average of $254.17 and a 200 day moving average of $220.28. The stock has a market capitalization of $288.81 billion, a PE ratio of 37.98, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. 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 52 week low of $159.36 and a 52 week high of $277.00.

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. The company 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%. GE Aerospace's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have commented on GE shares. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus 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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