Linscomb Wealth Inc. Buys 1,655 Shares of GE Aerospace (NYSE:GE)

Linscomb Wealth Inc. increased its stake in GE Aerospace (NYSE:GE - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,584 shares of the company's stock after buying 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.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC lifted its position in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 150 shares during the period. Sagespring Wealth Partners LLC bought a new stake in GE Aerospace during the fourth quarter worth about $1,616,000. Seeds Investor LLC grew its holdings in GE Aerospace by 13.3% in the fourth quarter. Seeds Investor LLC now owns 1,833 shares of the company's stock worth $306,000 after purchasing an additional 215 shares during the period. Finally, Advisors Capital Management LLC grew its holdings in GE Aerospace by 559.6% in the fourth quarter. Advisors Capital Management LLC now owns 20,376 shares of the company's stock worth $3,399,000 after purchasing an additional 17,287 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GE. Wells Fargo & Company boosted their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Barclays boosted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, UBS Group increased their price objective 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. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $274.95 on Monday. 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 firm's 50-day moving average price is $255.31 and its 200-day moving average price is $221.88. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $277.18. The company has a market cap of $291.57 billion, a PE ratio of 38.35, a PEG ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the prior year, the firm earned $1.20 EPS. The company's revenue was up 21.2% compared to the same quarter last year. As a group, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

GE Aerospace 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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