GE Aerospace (NYSE:GE) Shares Acquired by Wealthspire Advisors LLC

Key Points

• Wealthspire Advisors LLC increased its stake in GE Aerospace by 4.6%, owning 22,041 shares worth approximately $4.41 million at the end of the first quarter.
• Analysts have raised their price targets for GE Aerospace, with Barclays setting a new target of $295.00 and Citigroup raising theirs to $296.00, reflecting positive sentiment in the market.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, surpassing expectations, and achieved a revenue of $10.15 billion, up 21.2% year-over-year.

Wealthspire Advisors LLC grew its position in GE Aerospace (NYSE:GE - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,041 shares of the company's stock after purchasing an additional 975 shares during the period. Wealthspire Advisors LLC's holdings in GE Aerospace were worth $4,411,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Northern Trust Corp lifted its position in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of GE Aerospace by 11.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock valued at $1,259,438,000 after purchasing an additional 781,574 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Aerospace by 9.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after purchasing an additional 628,458 shares during the last quarter. Brown Advisory Inc. increased its stake in GE Aerospace by 3.6% during the fourth quarter. Brown Advisory Inc. now owns 6,097,319 shares of the company's stock worth $1,016,972,000 after acquiring an additional 213,954 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. 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, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company lifted their price target on GE Aerospace from $34.00 to $38.00 in a 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $271.88 on Wednesday. The firm's 50-day moving average price is $253.60 and its two-hundred day moving average price is $219.92. The stock has a market capitalization of $288.32 billion, a P/E ratio of 37.92, a P/E/G ratio of 2.97 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $277.00.

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, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio 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.

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