Lord Abbett & CO. LLC raised its position in GE Aerospace (NYSE:GE - Free Report) by 81.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,239,470 shares of the company's stock after acquiring an additional 555,612 shares during the period. GE Aerospace makes up 0.9% of Lord Abbett & CO. LLC's investment portfolio, making the stock its 23rd largest holding. Lord Abbett & CO. LLC owned 0.12% of GE Aerospace worth $248,080,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new position in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. First Pacific Financial grew its holdings in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares in the last quarter. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace during the first quarter worth about $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.
GE Aerospace Trading Down 3.8%
GE opened at $269.09 on Thursday. 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 firm's 50 day moving average is $256.84 and its 200-day moving average is $223.15. The firm has a market capitalization of $285.35 billion, a P/E ratio of 37.53, a P/E/G ratio of 3.01 and a beta of 1.44. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $281.50.
GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly 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 business had revenue of $10.15 billion during 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 business's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.
GE Aerospace Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.
Wall Street Analysts Forecast Growth
GE has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price target 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. Citigroup reissued a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group raised their target price on shares of 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 cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $232.92.
Read Our Latest Stock Analysis on GE
GE Aerospace Company 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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