New Age Alpha Advisors LLC Acquires 30,511 Shares of GE Aerospace (NYSE:GE)

Key Points

• New Age Alpha Advisors LLC increased its stake in GE Aerospace by an astounding 20,755.8%, acquiring over 30,500 shares worth approximately $6.14 million in the first quarter.
• GE Aerospace reported a 21.2% year-over-year revenue growth of $10.15 billion for the last quarter, while also exceeding earnings expectations with an adjusted EPS of $1.66.
• Recent analyst reports have resulted in raised price targets for GE Aerospace, with Wells Fargo increasing their target from $34 to $38, and the Royal Bank of Canada boosting theirs from $275 to $300.

New Age Alpha Advisors LLC increased its stake in GE Aerospace (NYSE:GE - Free Report) by 20,755.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,658 shares of the company's stock after purchasing an additional 30,511 shares during the period. New Age Alpha Advisors LLC's holdings in GE Aerospace were worth $6,136,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GE. Rainey & Randall Wealth Advisors Inc. bought a new position in GE Aerospace during the first quarter worth about $203,000. Sendero Wealth Management LLC lifted its stake in GE Aerospace by 526.6% in the first 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 in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of GE Aerospace by 25.1% in the first 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 period. Global Assets Advisory LLC increased its position in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after acquiring an additional 9,580 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent research reports. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $0.23 during trading hours on Wednesday, reaching $272.35. 3,490,007 shares of the stock were exchanged, compared to its average volume of 6,378,795. The firm has a market capitalization of $288.81 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 2.93 and a beta of 1.44. The stock's fifty day simple moving average is $253.60 and its 200 day simple moving average is $219.92. 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 has a 52 week low of $159.36 and a 52 week high of $277.00.

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 for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm's quarterly revenue was up 21.2% on a year-over-year basis. Sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given 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 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.