Orca Wealth Management LLC Acquires Shares of 1,040 GE Aerospace (NYSE:GE)

Key Points

• Orca Wealth Management LLC has established a new position in GE Aerospace by purchasing 1,040 shares valued at approximately $208,000.
• Analysts from various firms have increased their price targets for GE Aerospace, with Royal Bank of Canada and UBS Group setting targets as high as $321.00 per share.
• GE Aerospace reported strong quarterly earnings, with a profit of $1.66 per share, exceeding expectations and showcasing a 21.2% increase in revenue year-over-year.

Orca Wealth Management LLC acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,040 shares of the company's stock, valued at approximately $208,000.

A number of other institutional investors have also added to or reduced their stakes in GE. GAMMA Investing LLC increased its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the period. Invesco Ltd. boosted its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. FMR LLC boosted its holdings in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of GE Aerospace by 32.1% in the 4th quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock valued at $576,034,000 after purchasing an additional 838,954 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $2.88 during trading hours on Wednesday, hitting $273.19. The company's stock had a trading volume of 4,688,408 shares, compared to its average volume of 6,342,148. The business has a 50 day moving average price of $249.79 and a two-hundred day moving average price of $216.66. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $273.80. The company has a market cap of $289.70 billion, a PE ratio of 38.10, a PEG ratio of 2.91 and a beta of 1.37. 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 (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.53%. GE Aerospace's dividend payout ratio is currently 20.08%.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wall Street Zen raised 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 stock a "buy" rating in a report on Friday, July 18th. Finally, Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

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.