GE Aerospace $GE Shares Purchased by Evermay Wealth Management LLC

Key Points

• Evermay Wealth Management LLC increased its stake in GE Aerospace by 55.4% during the second quarter, now owning 3,016 shares valued at $776,000.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also increased their holdings, indicating strong confidence in the stock.
• Analysts have raised their price targets for GE Aerospace shares, with Royal Bank of Canada setting a new target at $340.00 and Deutsche Bank at $350.00, reflecting a positive outlook for the company.

Evermay Wealth Management LLC increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 55.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,016 shares of the company's stock after acquiring an additional 1,075 shares during the quarter. Evermay Wealth Management LLC's holdings in GE Aerospace were worth $776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in GE Aerospace by 0.8% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Invesco Ltd. increased its stake in GE Aerospace by 0.6% in the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the period. GQG Partners LLC acquired a new position in GE Aerospace in the first quarter valued at $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in GE Aerospace by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock valued at $1,536,387,000 after purchasing an additional 491,207 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $300.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Zacks Research lowered shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $276.31.

GE Aerospace Trading Up 0.3%

Shares of GE Aerospace stock opened at $300.60 on Monday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. 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 company's 50-day simple moving average is $286.07 and its 200-day simple moving average is $251.22. The firm has a market cap of $318.77 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

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 (EPS) for the quarter, topping 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 business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business's revenue was up 21.2% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.

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.

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