Seelaus Asset Management LLC Buys 1,310 Shares of GE Aerospace (NYSE:GE)

Key Points

• Seelaus Asset Management LLC increased its position in GE Aerospace by 27.5% in Q1, making it the firm's 15th largest holding, valued at approximately $1.2 million.
• GE Aerospace reported a 21.2% year-over-year revenue increase to $10.15 billion and exceeded earnings estimates with an EPS of $1.66 for the latest quarter.
• Numerous analysts have given positive outlooks on GE Aerospace, with recent price target increases from firms like Citigroup and Royal Bank of Canada, indicating strong buy ratings for the stock.

Seelaus Asset Management LLC lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 27.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,080 shares of the company's stock after purchasing an additional 1,310 shares during the period. GE Aerospace accounts for approximately 1.2% of Seelaus Asset Management LLC's holdings, making the stock its 15th largest holding. Seelaus Asset Management LLC's holdings in GE Aerospace were worth $1,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management grew its holdings in 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 during the period. Finally, First Pacific Financial boosted its holdings in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

GE stock traded down $1.81 during midday trading on Thursday, reaching $270.47. 625,583 shares of the company's stock traded hands, compared to its average volume of 6,113,263. The company has a 50-day moving average price of $254.17 and a two-hundred day moving average price of $220.28. 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 52 week low of $159.36 and a 52 week high of $277.00. The firm has a market capitalization of $286.82 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $9.49 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. 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 report on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Barclays upped their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group increased their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

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.