Seelaus Asset Management LLC Has $1.22 Million Stock Position in 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 holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 27.5% during the 1st quarter, according to its most recent disclosure with the SEC. 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 about 1.2% of Seelaus Asset Management LLC's portfolio, making the stock its 15th largest position. Seelaus Asset Management LLC's holdings in GE Aerospace were worth $1,217,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL boosted its holdings in GE Aerospace by 59.7% in the first quarter. Strategic Investment Solutions Inc. IL now owns 1,070 shares of the company's stock valued at $214,000 after acquiring an additional 400 shares during the last quarter. Capstone Financial Advisors Inc. boosted its holdings in GE Aerospace by 7.9% in the first quarter. Capstone Financial Advisors Inc. now owns 2,004 shares of the company's stock valued at $401,000 after acquiring an additional 146 shares during the last quarter. ING Groep NV boosted its holdings in GE Aerospace by 135.8% in the first quarter. ING Groep NV now owns 230,979 shares of the company's stock valued at $46,230,000 after acquiring an additional 133,016 shares during the last quarter. Earned Wealth Advisors LLC boosted its holdings in GE Aerospace by 67.8% during the first quarter. Earned Wealth Advisors LLC now owns 4,263 shares of the company's stock worth $853,000 after buying an additional 1,723 shares during the last quarter. Finally, SGL Investment Advisors Inc. boosted its holdings in GE Aerospace by 3.6% during the first quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock worth $303,000 after buying an additional 49 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Citigroup restated a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada raised their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wells Fargo & Company raised their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Down 1.1%

Shares of NYSE GE traded down $3.08 during mid-day trading on Tuesday, reaching $273.15. 320,386 shares of the company's stock were exchanged, compared to its average volume of 6,142,613. The firm has a market capitalization of $289.66 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 2.90 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. The business has a fifty day simple moving average of $252.99 and a 200 day simple moving average of $219.56. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $277.00.

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 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 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 firm earned $1.20 EPS. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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 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.