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Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $2.88 Million Stock Position in GE Aerospace (NYSE:GE)

GE Aerospace logo with Aerospace background

Key Points

  • Empirical Financial Services LLC significantly increased its position in GE Aerospace by 241%, holding shares worth approximately $2.88 million after acquiring an additional 10,177 shares.
  • Analysts have generally upgraded their ratings for GE Aerospace, with target prices reaching as high as $321.00, indicating strong market confidence in the company's performance.
  • GE Aerospace reported a 21.2% increase in revenue year-over-year, with earnings per share of $1.66 surpassing analysts' estimates, highlighting robust financial growth for the company.
  • Five stocks we like better than GE Aerospace.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in GE Aerospace (NYSE:GE - Free Report) by 241.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,400 shares of the company's stock after acquiring an additional 10,177 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in GE Aerospace were worth $2,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GE. Rainey & Randall Wealth Advisors Inc. bought a new stake in GE Aerospace in the 1st quarter valued at about $203,000. Sendero Wealth Management LLC boosted its holdings in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Global Assets Advisory LLC boosted its holdings in GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Invesco Ltd. boosted its holdings in GE Aerospace by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

GE stock traded down $1.59 during trading on Friday, reaching $269.49. 4,380,267 shares of the company were exchanged, compared to its average volume of 6,337,291. The company has a 50-day moving average of $252.13 and a two-hundred day moving average of $218.37. The company has a market capitalization of $285.78 billion, a price-to-earnings ratio of 37.59, a P/E/G ratio of 2.92 and a beta of 1.44. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $274.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

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 (EPS) for the quarter, topping 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 firm's quarterly 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 EPS. As a group, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

GE has been the subject of a number of recent research reports. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada boosted their price objective 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. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

Check Out Our Latest Stock Report on GE Aerospace

GE Aerospace Profile

(Free Report)

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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Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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