Harbour Investments Inc. grew its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 15.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,857 shares of the company's stock after purchasing an additional 1,038 shares during the period. Harbour Investments Inc.'s holdings in GE Aerospace were worth $1,573,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of GE Aerospace during the first quarter valued at about $203,000. Sendero Wealth Management LLC boosted its stake in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the period. Concurrent Investment Advisors LLC boosted its stake in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the period. Global Assets Advisory LLC boosted its stake in GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.
Analysts Set New Price Targets
GE has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Barclays upped their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating 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 research note on Monday, May 19th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada upped their price objective on shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.
View Our Latest Analysis on GE
GE Aerospace Stock Down 0.6%
Shares of GE stock traded down $1.59 during trading hours on Friday, hitting $269.49. 4,380,267 shares of the company were exchanged, compared to its average volume of 6,337,291. The business has a 50 day moving average of $252.13 and a two-hundred day moving average of $218.37. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $274.94. The company has a market capitalization of $285.78 billion, a PE ratio of 37.59, a PEG ratio of 2.90 and a beta of 1.44.
GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.
GE Aerospace Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.
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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