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

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

Several other institutional investors have also recently bought and sold shares of GE. GAMMA Investing LLC raised its holdings in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Janus Henderson Group PLC raised its holdings in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares during the period. Nuveen Asset Management LLC raised its holdings in GE Aerospace by 32.1% in the 4th quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock worth $576,034,000 after acquiring an additional 838,954 shares during the period. Canada Pension Plan Investment Board raised its holdings in GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after acquiring an additional 781,574 shares during the period. Finally, Vanguard Group Inc. raised its holdings in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after acquiring an additional 692,124 shares during the period. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Barclays lifted their target price 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 boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada boosted 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. Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

NYSE GE opened at $272.35 on Thursday. The stock has a market cap of $288.81 billion, a P/E ratio of 37.98, a PEG ratio of 2.93 and a beta of 1.44. The company's 50-day simple moving average is $254.17 and its 200 day simple moving average is $220.28. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $277.00. 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 (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 business had revenue of $10.15 billion for 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%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. As a group, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company 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 dividend payout ratio is 20.08%.

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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