LPL Financial LLC Purchases 130,599 Shares of GE Aerospace (NYSE:GE)

Key Points

• LPL Financial LLC increased its stake in GE Aerospace by 14.2%, acquiring over 130,000 additional shares, bringing its total ownership to approximately 1,048,943 shares valued at nearly $210 million.
• In its latest earnings report, GE Aerospace reported an EPS of $1.66, outperforming analysts' expectations of $1.43 and showcasing a 21.2% year-over-year revenue growth to $10.15 billion.
• GE Aerospace's quarterly dividend was recently announced at $0.36 per share, equating to an annualized yield of 0.53%, with a low dividend payout ratio of 20.08%.

LPL Financial LLC boosted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,048,943 shares of the company's stock after buying an additional 130,599 shares during the quarter. LPL Financial LLC owned approximately 0.10% of GE Aerospace worth $209,946,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. New Age Alpha Advisors LLC raised its stake 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 purchasing an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $28,000. Finally, Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Down 0.9%

NYSE:GE traded down $2.52 during trading hours on Thursday, reaching $271.03. The company's stock had a trading volume of 1,937,303 shares, compared to its average volume of 6,193,924. The firm has a market capitalization of $287.41 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.91 and a beta of 1.37. The firm has a 50-day simple moving average of $250.58 and a 200-day simple moving average of $217.05. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $274.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm 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 company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. Research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace's payout ratio is currently 20.08%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GE shares. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Company 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.