Meridian Wealth Management LLC Raises Stock Holdings in 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 the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,070 shares of the company's stock after purchasing an additional 3,149 shares during the quarter. Meridian Wealth Management LLC's holdings in GE Aerospace were worth $4,017,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after acquiring an additional 692,124 shares in the last quarter. Northern Trust Corp increased its holdings in shares of GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. Invesco Ltd. increased its holdings in shares of GE Aerospace by 0.6% during the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after acquiring an additional 54,765 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of GE Aerospace by 11.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock valued at $1,259,438,000 after acquiring an additional 781,574 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Aerospace by 9.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after acquiring an additional 628,458 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Down 0.6%

GE traded down $1.57 during trading hours on Friday, reaching $268.14. 2,324,657 shares of the company's stock traded hands, compared to its average volume of 6,058,863. The firm has a 50-day moving average price of $257.20 and a 200 day moving average price of $223.67. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $281.50. 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 has a market capitalization of $284.34 billion, a PE ratio of 37.40, 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the previous year, the business earned $1.20 EPS. GE Aerospace's revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GE. Citigroup reaffirmed a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

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.