Fairfield Financial Advisors LTD Purchases 5,061 Shares of GE Aerospace (NYSE:GE)

Key Points

• Fairfield Financial Advisors LTD significantly increased its stake in GE Aerospace by 97.5% in Q1, owning 10,250 shares valued at approximately $2.05 million by the end of that period.
• GE Aerospace reported $1.66 earnings per share (EPS) for the recent quarter, surpassing analyst expectations, along with a 21.2% year-over-year revenue growth to $10.15 billion.
• The company recently announced a quarterly dividend of $0.36 per share, resulting in an annual yield of 0.5% with a payout ratio of 20.08%.

Fairfield Financial Advisors LTD boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 97.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,250 shares of the company's stock after acquiring an additional 5,061 shares during the quarter. GE Aerospace accounts for about 0.8% of Fairfield Financial Advisors LTD's investment portfolio, making the stock its 28th largest holding. Fairfield Financial Advisors LTD's holdings in GE Aerospace were worth $2,051,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter valued at approximately $28,000. 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 acquiring an additional 142 shares in the last quarter. 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 acquiring an additional 84 shares in the last quarter. O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace in the 1st quarter valued at approximately $33,000. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the 4th quarter valued at approximately $28,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GE shares. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. 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 report on Monday, May 19th. Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. 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 report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

NYSE:GE traded down $1.59 during mid-day trading on Friday, hitting $269.49. 4,380,267 shares of the stock were exchanged, compared to its average volume of 6,558,105. The firm's 50-day simple moving average is $252.13 and its 200 day simple moving average is $218.91. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week 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. The stock has a market capitalization of $285.78 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44.

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, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the company earned $1.20 EPS. The company's revenue was up 21.2% on a year-over-year basis. As a group, equities analysts anticipate 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. Investors of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

About GE Aerospace

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.