Journey Advisory Group LLC Buys 24,295 Shares of GE Aerospace $GE

Key Points

• Journey Advisory Group LLC increased its stake in GE Aerospace by 599.6%, acquiring an additional 24,295 shares during the second quarter, raising their total holdings to $7,296,000.
• GE Aerospace reported a 21.2% year-over-year revenue increase with quarterly earnings of $1.66 per share, exceeding analyst estimates by $0.23.
• The company announced a quarterly dividend of $0.36, set to be paid on October 27th, representing an annualized yield of 0.5%.

Journey Advisory Group LLC boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 599.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,347 shares of the company's stock after acquiring an additional 24,295 shares during the period. Journey Advisory Group LLC's holdings in GE Aerospace were worth $7,296,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. boosted its holdings in GE Aerospace by 23.5% in the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company's stock valued at $437,000 after acquiring an additional 331 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after buying an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace during the 1st quarter valued at $203,000. Concurrent Investment Advisors LLC boosted its holdings in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after buying an additional 8,245 shares in the last quarter. Finally, Global Assets Advisory LLC boosted its holdings in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after buying an additional 9,580 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

GE opened at $300.60 on Monday. The stock has a 50-day moving average price of $286.07 and a 200-day moving average price of $251.22. 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 firm has a market cap of $318.77 billion, a PE ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Analysts Set New Price Targets

A number of analysts have recently commented on GE shares. Zacks Research cut shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $350.00 target price on shares of GE Aerospace in a report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Sanford C. Bernstein boosted their target price on shares of GE Aerospace from $343.00 to $374.00 and gave the company an "outperform" rating in a report on Wednesday, October 15th. Finally, UBS Group boosted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $276.31.

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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