GE Aerospace $GE Shares Bought by Stratos Wealth Advisors LLC

Key Points

• Stratos Wealth Advisors LLC increased its holdings in GE Aerospace by 37.1% during the second quarter, now owning 5,359 shares valued at $1,379,000.
• GE Aerospace reported earnings of $1.66 per share, surpassing analysts' expectations of $1.43, with revenue reaching $10.15 billion for the quarter.
• The company announced a quarterly dividend of $0.36 per share, set to be distributed on October 27th, with a current dividend yield of 0.5%.

Stratos Wealth Advisors LLC raised its holdings in GE Aerospace (NYSE:GE - Free Report) by 37.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,359 shares of the company's stock after purchasing an additional 1,451 shares during the quarter. Stratos Wealth Advisors LLC's holdings in GE Aerospace were worth $1,379,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Old North State Wealth Management LLC increased its position in shares of GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after acquiring an additional 39 shares during the last quarter. Stephens Consulting LLC boosted its position in shares of GE Aerospace by 18.0% during the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after purchasing an additional 39 shares during the period. Webster Bank N. A. increased its holdings in GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after purchasing an additional 41 shares during the last quarter. Pacific Sage Partners LLC raised its position in GE Aerospace by 3.5% in the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock valued at $314,000 after purchasing an additional 41 shares during the period. Finally, Ascent Capital Management LLC lifted its stake in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after purchasing an additional 42 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE stock opened at $300.60 on Friday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $318.77 billion, a P/E ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. The business has a 50 day simple moving average of $286.07 and a 200-day simple moving average of $250.77.

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, beating analysts' consensus estimates of $1.43 by $0.23. The business 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%. The business's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a dividend of $0.36 per share. 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 dividend payout ratio (DPR) is currently 20.08%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group raised their target price on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Zacks Research lowered shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. TD Cowen boosted their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Finally, Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $267.13.

GE Aerospace 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.