GE Aerospace (NYSE:GE) Shares Bought by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC increased its holdings in GE Aerospace by 25.6% during the first quarter, acquiring a total of 9,932 shares valued at approximately $1.99 million.
• GE Aerospace reported stronger-than-expected earnings with $1.66 EPS for the quarter, surpassing estimates by $0.23 and achieving a revenue of $10.15 billion, which represents a 21.2% year-over-year increase.
• The company declared a quarterly dividend of $0.36 per share with an annualized yield of 0.5%, showcasing a dividend payout ratio of 20.08%.

EverSource Wealth Advisors LLC raised its position in GE Aerospace (NYSE:GE - Free Report) by 25.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,932 shares of the company's stock after purchasing an additional 2,024 shares during the quarter. EverSource Wealth Advisors LLC's holdings in GE Aerospace were worth $1,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Sfmg LLC boosted its holdings in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after purchasing an additional 48 shares during the last quarter. SGL Investment Advisors Inc. boosted its holdings in GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after purchasing an additional 49 shares during the last quarter. Hudock Inc. boosted its holdings in GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after purchasing an additional 50 shares during the last quarter. First Pacific Financial boosted its holdings in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Finally, First Heartland Consultants Inc. lifted its holdings in shares of GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after acquiring an additional 54 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Price Performance

GE Aerospace stock opened at $267.62 on Friday. The firm has a market cap of $283.79 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $281.50. 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 moving average is $257.44 and its two-hundred day moving average is $224.17.

GE Aerospace (NYSE:GE - Get Free Report) last released its 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. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. On average, research analysts expect 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. Shareholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GE shares. Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

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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