Morton Capital Management LLC CA Buys Shares of 887 GE Aerospace $GE

Key Points

• Morton Capital Management LLC acquired 887 shares of GE Aerospace, valued at approximately $228,000, during the second quarter, reflecting continued institutional interest in the stock.
• Analysts have set bullish price targets for GE Aerospace, with Citigroup and UBS both issuing "buy" ratings and raising their price objectives to $296.00 and $321.00 respectively.
• GE Aerospace reported impressive quarterly earnings, surpassing expectations with earnings per share of $1.66 and a revenue increase of 21.2% year-over-year.

Morton Capital Management LLC CA bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 887 shares of the company's stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Brighton Jones LLC raised its position in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares during the period. UMB Bank n.a. raised its holdings in shares of GE Aerospace by 6.2% in the 1st quarter. UMB Bank n.a. now owns 9,305 shares of the company's stock valued at $1,862,000 after buying an additional 545 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of GE Aerospace by 1.9% in the 1st quarter. First Citizens Bank & Trust Co. now owns 12,303 shares of the company's stock valued at $2,462,000 after buying an additional 232 shares during the period. Finally, Courier Capital LLC raised its holdings in shares of GE Aerospace by 5.4% in the 1st quarter. Courier Capital LLC now owns 7,329 shares of the company's stock valued at $1,467,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Jefferies Financial Group boosted their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Wall Street Zen downgraded GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a report on Saturday, September 27th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $241.92.

GE Aerospace Trading Up 1.3%

GE opened at $302.12 on Wednesday. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The company has a market cap of $320.37 billion, a P/E ratio of 42.14, a PEG ratio of 3.21 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The business's 50-day simple moving average is $281.84 and its 200-day simple moving average is $245.55.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 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 business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business's revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

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.

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