Granite Harbor Advisors Inc. Takes Position in GE Aerospace $GE

Key Points

• Granite Harbor Advisors Inc. has purchased a new stake in GE Aerospace, acquiring 1,156 shares valued at approximately $231,000 in the first quarter.
• Analysts have upgraded GE Aerospace's stock ratings, with several firms raising their target prices, indicating strong investor confidence in the company's performance.
• GE Aerospace reported a quarterly earnings per share of $1.66, exceeding estimates and reflecting a year-over-year revenue increase of 21.2%.

Granite Harbor Advisors Inc. purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,156 shares of the company's stock, valued at approximately $231,000.

A number of other large investors have also added to or reduced their stakes in GE. Sfmg LLC raised its position in GE Aerospace by 2.4% during 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. increased its stake in shares of GE Aerospace by 3.6% during the first quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after buying an additional 49 shares during the period. Hudock Inc. increased its stake in shares of GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares during the period. First Pacific Financial raised 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 valued at $33,000 after acquiring an additional 52 shares in the last quarter. Finally, First Heartland Consultants Inc. lifted its stake in GE Aerospace by 1.2% in the fourth 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 period. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on GE shares. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday. Wells Fargo & Company raised their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Barclays boosted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Trading Down 0.8%

NYSE:GE opened at $267.62 on Monday. The stock has a market cap of $283.79 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.88 and a beta of 1.44. 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 price is $257.44 and its 200-day moving average price is $224.48. 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 earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company's revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business 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 dividend payout ratio is currently 20.08%.

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.