Entropy Technologies LP Acquires New Position in GE Aerospace (NYSE:GE)

Key Points

• Entropy Technologies LP has acquired 17,402 shares of GE Aerospace valued at approximately $3.48 million, as disclosed in their latest SEC filing.
• GE Aerospace reported strong quarterly earnings, with an EPS of $1.66, exceeding estimates, along with a year-over-year revenue increase of 21.2% to $10.15 billion.
• Several equity analysts have raised their price targets on GE Aerospace, with UBS increasing it from $300 to $321 and Royal Bank of Canada from $275 to $300, reflecting a positive market outlook.

Entropy Technologies LP acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,402 shares of the company's stock, valued at approximately $3,483,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. IMA Advisory Services Inc. bought a new position in GE Aerospace in the first quarter valued at about $28,000. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the period. O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace in the first quarter worth $33,000. First Pacific Financial raised its holdings in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the period. Finally, POM Investment Strategies LLC boosted its position in shares of GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 1.6%

Shares of GE traded up $4.29 during midday trading on Tuesday, reaching $279.49. The company had a trading volume of 3,620,911 shares, compared to its average volume of 6,083,708. The firm has a 50 day simple moving average of $255.87 and a 200-day simple moving average of $222.43. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $280.54. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $296.38 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.