Empower Advisory Group LLC Acquires 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 raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 35.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,220 shares of the company's stock after buying an additional 1,101 shares during the quarter. Empower Advisory Group LLC's holdings in GE Aerospace were worth $845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC lifted its stake in GE Aerospace by 1,311.2% during the first quarter. Costello Asset Management INC now owns 2,385 shares of the company's stock worth $477,000 after purchasing an additional 2,216 shares during the last quarter. Advyzon Investment Management LLC bought a new stake in shares of GE Aerospace in the 1st quarter valued at about $258,000. New Age Alpha Advisors LLC lifted its stake in shares of GE Aerospace by 20,755.8% in the 1st quarter. New Age Alpha Advisors LLC now owns 30,658 shares of the company's stock valued at $6,136,000 after acquiring an additional 30,511 shares during the last quarter. NBZ Investment Advisors LLC bought a new stake in shares of GE Aerospace in the 1st quarter valued at about $408,000. Finally, Sfmg LLC lifted its stake in shares of GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after acquiring an additional 48 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of GE stock traded up $2.93 on Friday, reaching $274.95. The stock had a trading volume of 4,378,663 shares, compared to its average volume of 6,157,504. The stock has a market cap of $291.57 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $277.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a 50 day simple moving average of $255.31 and a 200 day simple moving average of $221.73.

GE Aerospace (NYSE:GE - Get Free Report) last announced 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 return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the firm earned $1.20 EPS. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research analyst reports. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group boosted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

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.