Linscomb Wealth Inc. Increases Stock Holdings in GE Aerospace (NYSE:GE)

Key Points

• Linscomb Wealth Inc. increased its stake in GE Aerospace by 15.1%, acquiring an additional 1,655 shares to total 12,584 shares, valued at around $2,519,000.
• Brokerages have updated their ratings and price targets for GE Aerospace, with Wells Fargo raising its target from $34.00 to $38.00 and Citigroup increasing its target to $296.00, reflecting a consensus of an average target price of $232.92.
• GE Aerospace reported strong quarterly earnings, with an EPS of $1.66, surpassing estimates, and a revenue of $10.15 billion, which is up 21.2% compared to the same quarter last year.

Linscomb Wealth Inc. grew its position in GE Aerospace (NYSE:GE - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,584 shares of the company's stock after purchasing an additional 1,655 shares during the period. Linscomb Wealth Inc.'s holdings in GE Aerospace were worth $2,519,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the first quarter valued at approximately $28,000. Copia Wealth Management boosted its position in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the period. First Pacific Financial boosted its position in shares of GE Aerospace by 46.0% in 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 during the period. Finally, O Brien Wealth Partners LLC bought a new stake in GE Aerospace during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays lifted their price target 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. Royal Bank Of Canada lifted their price target 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. Finally, Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

NYSE GE traded up $1.70 on Thursday, reaching $270.56. The stock had a trading volume of 2,945,181 shares, compared to its average volume of 6,073,061. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50. The business's 50-day moving average price is $256.84 and its 200 day moving average price is $223.15. The stock has a market cap of $286.91 billion, a P/E ratio of 37.73, a price-to-earnings-growth ratio of 3.01 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 analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for 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%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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 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 (DPR) is presently 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.