Kovitz Investment Group Partners LLC grew its holdings in GE Aerospace (NYSE:GE - Free Report) by 311.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,592 shares of the company's stock after purchasing an additional 57,973 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in GE Aerospace were worth $15,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Putney Financial Group LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management lifted 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 purchasing an additional 142 shares during the period. First Pacific Financial lifted its stake in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC acquired a new position in shares of GE Aerospace in the 1st quarter valued at about $33,000. 74.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.
Check Out Our Latest Stock Report on GE Aerospace
GE Aerospace Price Performance
GE Aerospace stock opened at $269.86 on Friday. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The business's 50 day simple moving average is $257.20 and its 200 day simple moving average is $223.67. The company has a market cap of $286.17 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.89 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, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace's revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.
About GE Aerospace
(
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.
See Also
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).
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