Pettinga Financial Advisors LLC Purchases New Holdings in GE Aerospace $GE

Key Points

• Pettinga Financial Advisors LLC acquired a new stake in GE Aerospace, purchasing 916 shares valued at approximately $236,000 in the second quarter.
• Analysts have raised price targets for GE Aerospace, with Wolfe Research increasing it from $280 to $330, while Goldman Sachs raised theirs to $305. A majority of analysts maintain a "Buy" rating on the stock.
• GE Aerospace reported strong quarterly earnings with revenue of $10.15 billion, surpassing estimates, and is set to pay a quarterly dividend of $0.36 per share on October 27th.

Pettinga Financial Advisors LLC purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 916 shares of the company's stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the first quarter valued at approximately $28,000. Copia Wealth Management increased 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 valued at $29,000 after acquiring an additional 142 shares during the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace during the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC bought a new position in GE Aerospace during the first quarter valued at $30,000. Finally, O Brien Wealth Partners LLC bought a new position in GE Aerospace during the first quarter valued at $33,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wolfe Research increased their price objective on GE Aerospace from $280.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 9th. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a report on Wednesday, October 8th. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. The Goldman Sachs Group increased their price objective on GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, October 10th. Finally, Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $267.13.

GE Aerospace Price Performance

GE Aerospace stock opened at $300.49 on Thursday. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The business has a fifty day moving average price of $285.00 and a 200-day moving average price of $249.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market capitalization of $318.65 billion, a P/E ratio of 41.91, a PEG ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly 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. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 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.

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