NBZ Investment Advisors LLC Acquires New Position in GE Aerospace (NYSE:GE)

Key Points

• NBZ Investment Advisors LLC has acquired a new position in GE Aerospace, purchasing 2,039 shares valued at approximately $408,000.
• GE Aerospace reported $1.66 earnings per share for the last quarter, significantly surpassing analysts' expectations of $1.43, with a revenue of $10.15 billion.
• The company announced a quarterly dividend of $0.36, providing a dividend yield of 0.5%, with a payout ratio of 20.08%.

NBZ Investment Advisors LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,039 shares of the company's stock, valued at approximately $408,000.

A number of other large investors also recently bought and sold shares of GE. Brighton Jones LLC raised its stake in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in GE Aerospace by 15.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 6,654 shares of the company's stock worth $1,109,000 after acquiring an additional 871 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in GE Aerospace during the 4th quarter worth $668,000. Finally, KCM Investment Advisors LLC grew its holdings in GE Aerospace by 10.5% during the 4th quarter. KCM Investment Advisors LLC now owns 4,708 shares of the company's stock worth $785,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE opened at $269.49 on Monday. The company's 50 day moving average price is $252.13 and its 200 day moving average price is $218.91. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $274.94. The company has a market capitalization of $285.78 billion, a PE ratio of 37.59, a PEG ratio of 2.90 and a beta of 1.44. 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 posted its earnings results 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. The firm had revenue of $10.15 billion during 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 company's revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. Research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup restated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One equities 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, the company presently has an average rating of "Moderate Buy" and an average price target of $232.92.

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.

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