Morling Financial Advisors LLC Acquires Shares of 1,746 GE Aerospace (NYSE:GE)

Morling Financial Advisors LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,746 shares of the company's stock, valued at approximately $349,000.

A number of other hedge funds have also added to or reduced their stakes in GE. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of GE Aerospace by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares during the last quarter. Hudock Inc. grew its holdings in shares of GE Aerospace by 1.8% during the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after purchasing an additional 50 shares during the last quarter. First Pacific Financial boosted its position in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the period. First Heartland Consultants Inc. boosted its position in GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after buying an additional 54 shares during the period. Finally, Affinity Wealth Management LLC boosted its position in GE Aerospace by 4.4% during the 1st quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock valued at $264,000 after buying an additional 56 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Trading Up 1.7%

Shares of NYSE:GE traded up $4.48 on Thursday, hitting $267.66. The company had a trading volume of 5,203,260 shares, compared to its average volume of 7,849,927. The firm's 50-day simple moving average is $247.59 and its two-hundred day simple moving average is $214.32. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $272.80. 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 $283.83 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 3.01 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the company posted $1.20 EPS. The company's quarterly revenue was up 21.2% compared to the same quarter last year. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.54%. GE Aerospace's payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup reissued a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group increased their price target 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. Wells Fargo & Company increased their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday. Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

Insider Activity

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

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.