GE Aerospace (NYSE:GE) is Spectrum Financial Alliance Ltd LLC's 7th Largest Position

Key Points

• Spectrum Financial Alliance Ltd LLC increased its holdings in GE Aerospace by 8.4% in Q1, making it the firm's 7th largest position with investments worth approximately $22 million.
• GE Aerospace reported a 21.2% year-over-year revenue increase for the quarter, with earnings per share of $1.66, surpassing estimates by $0.23.
• A number of analysts upgraded GE Aerospace's stock, with Barclays raising the price target from $230 to $295, and Citigroup increasing their target to $296, indicating strong market confidence.

Spectrum Financial Alliance Ltd LLC lifted its holdings in GE Aerospace (NYSE:GE - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,264 shares of the company's stock after purchasing an additional 8,539 shares during the quarter. GE Aerospace accounts for approximately 7.2% of Spectrum Financial Alliance Ltd LLC's investment portfolio, making the stock its 7th largest position. Spectrum Financial Alliance Ltd LLC's holdings in GE Aerospace were worth $22,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its position in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the fourth quarter worth $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace in the fourth quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the first quarter worth $28,000. Finally, Copia Wealth Management lifted its position in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE stock opened at $271.28 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The business has a 50-day moving average price of $248.37 and a 200 day moving average price of $215.00. The company has a market capitalization of $287.67 billion, a P/E ratio of 37.84, a PEG ratio of 3.06 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.83.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio is currently 20.08%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays raised their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citigroup restated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

Insider Buying and Selling at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.

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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