MGO One Seven LLC Increases Stock Position in GE Aerospace (NYSE:GE)

Key Points

• MGO One Seven LLC increased its holdings in GE Aerospace by 14.7%, bringing its total investment to approximately $9.10 million at the end of the most recent quarter.
• GE Aerospace reported quarterly earnings of $1.66 per share, exceeding predictions of $1.43, with revenues reaching $10.15 billion, significantly higher than the expected $9.49 billion.
• The company declared a quarterly dividend of $0.36 per share, representing an annualized dividend yield of 0.53% and a payout ratio of 20.08%.

MGO One Seven LLC increased its position in GE Aerospace (NYSE:GE - Free Report) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,477 shares of the company's stock after acquiring an additional 5,845 shares during the period. MGO One Seven LLC's holdings in GE Aerospace were worth $9,102,000 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 added to or reduced their stakes in the company. Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of GE Aerospace during the 1st quarter valued at about $203,000. Sendero Wealth Management LLC raised its stake 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 buying an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake 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 buying an additional 8,245 shares during the last quarter. Global Assets Advisory LLC raised its stake 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 buying an additional 9,580 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GE shares. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays lifted their price objective on 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 lifted their price target on 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 GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE traded down $1.59 during midday trading on Friday, reaching $269.49. 4,380,267 shares of the company were exchanged, compared to its average volume of 6,337,291. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $274.94. The stock has a fifty day simple moving average of $251.39 and a 200 day simple moving average of $217.73. The stock has a market cap of $285.78 billion, a P/E ratio of 37.59, a PEG ratio of 2.92 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 (EPS) for the quarter, topping 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 firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the company posted $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. On average, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 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.