Purkiss Capital Advisors LLC Buys Shares of 1,212 GE Aerospace (NYSE:GE)

Key Points

• Purkiss Capital Advisors LLC acquired 1,212 shares of GE Aerospace, valued at approximately $243,000, during the first quarter, marking a new investment in the company.
• GE Aerospace reported a quarterly EPS of $1.66, exceeding estimates, alongside a 21.2% increase in revenue year-over-year, totaling $10.15 billion.
• Analysts recently raised their price targets for GE Aerospace, with Citigroup setting a new target of $296.00, reflecting positive sentiment among investment firms towards the stock.

Purkiss Capital Advisors LLC acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,212 shares of the company's stock, valued at approximately $243,000.

Several other institutional investors have also modified their holdings of GE. New Age Alpha Advisors LLC increased its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace in the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the 1st quarter valued at $28,000. Finally, Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% in the 1st 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 period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. 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 note on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Northcoast Research cut 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded down $1.68 on Thursday, hitting $271.87. The company's stock had a trading volume of 2,221,940 shares, compared to its average volume of 6,195,970. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $274.94. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $250.58 and a 200-day moving average price of $217.05. The company has a market capitalization of $288.31 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 2.91 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. On average, equities research 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. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is 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.