GE Aerospace (NYSE:GE) Stock Holdings Increased by L & S Advisors Inc

Key Points

• L & S Advisors Inc significantly increased its stake in GE Aerospace by 680.8% during the first quarter, now owning 10,587 shares valued at approximately $2.12 million.
• GE Aerospace reported earnings of $1.66 per share, exceeding estimates by $0.23, and its quarterly revenue reached $10.15 billion, a 21.2% increase compared to last year.
• The company's stock has shown strong performance, with a market capitalization of $285.78 billion and a current price range between a low of $150.20 and a high of $274.94 over the last year.

L & S Advisors Inc boosted its position in GE Aerospace (NYSE:GE - Free Report) by 680.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,587 shares of the company's stock after purchasing an additional 9,231 shares during the period. L & S Advisors Inc's holdings in GE Aerospace were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Age Alpha Advisors LLC increased its position in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the 4th quarter worth about $28,000. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the 4th quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter worth about $28,000. Finally, Copia Wealth Management boosted its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Trading Down 0.6%

Shares of GE traded down $1.59 during mid-day trading on Friday, reaching $269.49. The company had a trading volume of 4,380,267 shares, compared to its average volume of 6,558,105. The stock has a market cap of $285.78 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. The firm has a fifty day simple moving average of $252.13 and a 200-day simple moving average of $218.91. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $274.94. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last issued 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. 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 the consensus estimate of $9.49 billion. During the same quarter last year, the firm posted $1.20 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

About GE Aerospace

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.