RVW Wealth LLC Purchases Shares of 1,246 GE Aerospace (NYSE:GE)

Key Points

• RVW Wealth LLC purchased 1,246 shares of GE Aerospace valued at approximately $249,000 during the first quarter.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding analysts' estimates and marking a 21.2% revenue increase compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.36 per share, with a dividend yield of 0.5% and a payout ratio of 20.08%.

RVW Wealth LLC bought a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,246 shares of the company's stock, valued at approximately $249,000.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted their price objective on shares of 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. Finally, Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

GE traded down $1.59 during midday trading on Friday, hitting $269.49. 4,380,267 shares of the company were exchanged, compared to its average volume of 6,337,291. The company's 50 day simple moving average is $252.13 and its 200 day simple moving average is $218.37. The firm has a market capitalization of $285.78 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. 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 announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $1.20 earnings per share. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend 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.