GE Aerospace $GE Shares Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its stake in GE Aerospace by 7.9%, holding 15,616 shares valued at $4.02 million as of the recent reporting period.
• Several analysts upgraded their ratings for GE Aerospace shares, with target prices rising from $271 to $330, indicating a positive market outlook.
• GE Aerospace announced a quarterly dividend of $0.36, reflecting a 0.5% yield and a corresponding payout ratio of 20.08%.

International Assets Investment Management LLC grew its position in GE Aerospace (NYSE:GE - Free Report) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,616 shares of the company's stock after purchasing an additional 1,137 shares during the quarter. International Assets Investment Management LLC's holdings in GE Aerospace were worth $4,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. raised its holdings in shares of GE Aerospace by 23.5% in the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company's stock valued at $437,000 after purchasing an additional 331 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after buying an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of GE Aerospace in the 1st quarter valued at $203,000. Concurrent Investment Advisors LLC grew its position in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after buying an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC grew its position in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after buying an additional 9,580 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GE shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. TD Cowen increased their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Royal Bank Of Canada increased 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. The Goldman Sachs Group increased their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Finally, Zacks Research downgraded shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $267.13.

GE Aerospace Stock Up 0.3%

Shares of NYSE:GE opened at $300.60 on Friday. The stock has a market cap of $318.77 billion, a P/E ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49. The firm has a fifty day moving average price of $286.07 and a 200 day moving average price of $250.77. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm 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 quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. Sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is presently 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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