GE Aerospace (NYSE:GE) Shares Bought by LPL Financial LLC

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mitchell Sinkler & Starr PA lifted its holdings in GE Aerospace by 17.4% in the first quarter. Mitchell Sinkler & Starr PA now owns 12,135 shares of the company's stock valued at $2,429,000 after acquiring an additional 1,802 shares during the period. Ballast Advisors LLC lifted its holdings in GE Aerospace by 8.5% in the first quarter. Ballast Advisors LLC now owns 2,271 shares of the company's stock valued at $455,000 after acquiring an additional 178 shares during the period. Waddell & Associates LLC acquired a new stake in GE Aerospace in the first quarter valued at $523,000. Bedel Financial Consulting Inc. lifted its holdings in GE Aerospace by 6.8% in the first quarter. Bedel Financial Consulting Inc. now owns 1,595 shares of the company's stock valued at $333,000 after acquiring an additional 101 shares during the period. Finally, Empirical Finance LLC raised its stake in shares of GE Aerospace by 1.3% during the 1st quarter. Empirical Finance LLC now owns 37,598 shares of the company's stock worth $7,525,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Up 1.2%

NYSE GE opened at $271.28 on Monday. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.83. The company has a 50-day moving average of $248.37 and a 200-day moving average of $215.59. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market cap of $287.67 billion, a P/E ratio of 37.84, a P/E/G ratio of 3.11 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The company's quarterly revenue was up 21.2% compared to the same quarter last year. As a group, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.53%. GE Aerospace's dividend payout ratio is currently 20.08%.

Insider Activity at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note 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, the stock 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.

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