Evolution Wealth Advisors LLC Acquires New Holdings in GE Aerospace (NYSE:GE)

Key Points

• Evolution Wealth Advisors LLC has invested $206,000 in 1,030 shares of GE Aerospace, highlighting ongoing institutional interest in the company.
• GE Aerospace reported a quarterly earnings per share of $1.66, exceeding the analyst consensus estimate by $0.23, and achieving a revenue of $10.15 billion.
• Analysts' ratings for GE Aerospace are generally optimistic, with several firms raising their price targets, and a consensus rating of “Moderate Buy” from equity research analysts.

Evolution Wealth Advisors LLC bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,030 shares of the company's stock, valued at approximately $206,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the period. Renaissance Technologies LLC raised its holdings in shares of GE Aerospace by 39.9% during the fourth quarter. Renaissance Technologies LLC now owns 555,800 shares of the company's stock worth $92,702,000 after purchasing an additional 158,389 shares during the period. Advisory Services Network LLC raised its holdings in shares of GE Aerospace by 12.7% during the fourth quarter. Advisory Services Network LLC now owns 50,935 shares of the company's stock worth $8,495,000 after purchasing an additional 5,754 shares during the period. Finally, CenterBook Partners LP raised its holdings in shares of GE Aerospace by 25.8% during the fourth quarter. CenterBook Partners LP now owns 12,315 shares of the company's stock worth $2,054,000 after purchasing an additional 2,526 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of NYSE:GE traded up $2.93 during trading hours on Friday, hitting $274.95. 4,378,663 shares of the company's stock traded hands, compared to its average volume of 6,157,504. GE Aerospace has a 52 week low of $159.36 and a 52 week 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's fifty day simple moving average is $255.31 and its two-hundred day simple moving average is $221.73. The company has a market cap of $291.57 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

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 the consensus estimate 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 during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the company posted $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays increased their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock 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 company's stock. According to data from MarketBeat, the stock currently 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.