Meridian Wealth Management LLC Purchases 3,149 Shares of GE Aerospace (NYSE:GE)

Key Points

• Meridian Wealth Management LLC increased its stake in GE Aerospace by 18.6%, acquiring an additional 3,149 shares, bringing its total holdings to 20,070 shares valued at approximately $4 million.
• Multiple analysts have raised their price targets for GE Aerospace, with UBS Group setting a new target of $321, while Barclays increased theirs to $295, indicating strong market confidence.
• GE Aerospace recently reported $1.66 EPS for the quarter, surpassing analysts' expectations of $1.43, along with a revenue of $10.15 billion, marking a 21.2% increase year-over-year.

Meridian Wealth Management LLC boosted its position in GE Aerospace (NYSE:GE - Free Report) by 18.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,070 shares of the company's stock after purchasing an additional 3,149 shares during the period. Meridian Wealth Management LLC's holdings in GE Aerospace were worth $4,017,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rainey & Randall Wealth Advisors Inc. bought a new position in shares of GE Aerospace during the 1st quarter valued at approximately $203,000. Sendero Wealth Management LLC grew its position in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after acquiring an additional 12,613 shares during the period. Concurrent Investment Advisors LLC grew its position 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 acquiring an additional 8,245 shares during the period. Global Assets Advisory LLC grew its position 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 acquiring an additional 9,580 shares during the period. Finally, Leisure Capital Management purchased a new stake in shares of GE Aerospace during the 1st quarter valued at approximately $222,000. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group upped their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Barclays upped their price target 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. Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

GE Aerospace stock opened at $275.25 on Tuesday. The stock has a market cap of $291.89 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The firm's fifty day moving average price is $255.87 and its 200-day moving average price is $222.43. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $277.18. 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 (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations 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 last year, the company earned $1.20 EPS. On average, equities research analysts expect 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 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 payout ratio is presently 20.08%.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.