New Jersey Better Educational Savings Trust Buys New Holdings in GE Aerospace (NYSE:GE)

Key Points

• The New Jersey Better Educational Savings Trust has acquired a new position in GE Aerospace, purchasing 1,006 shares worth approximately $201,000.
• GE Aerospace reported a quarterly EPS of $1.66, surpassing analysts’ expectations of $1.43, alongside revenue of $10.15 billion, up 21.2% year-over-year.
• Numerous analysts have upgraded their ratings for GE Aerospace, with UBS raising the target price to $321.00 and the company receiving a consensus rating of "Moderate Buy".

New Jersey Better Educational Savings Trust bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,006 shares of the company's stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Age Alpha Advisors LLC boosted its stake in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace in the fourth quarter worth $28,000. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the first quarter worth $28,000. Finally, Copia Wealth Management boosted its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. UBS Group lifted 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. Finally, Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Down 0.6%

GE Aerospace stock traded down $1.59 during midday trading on Friday, reaching $269.49. The stock had a trading volume of 4,380,267 shares, compared to its average volume of 6,337,291. The stock has a market capitalization of $285.78 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. The firm's fifty day simple moving average is $252.13 and its 200-day simple moving average is $218.37. 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 1-year low of $150.20 and a 1-year high of $274.94.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the business earned $1.20 EPS. The business's quarterly revenue was up 21.2% on a year-over-year basis. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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