Steward Partners Investment Advisory LLC Acquires 4,207 Shares of GE Aerospace (NYSE:GE)

Key Points

• Steward Partners Investment Advisory LLC increased its holdings in GE Aerospace by 4.2% in Q1, owning a total of 105,011 shares valued at $21 million following the purchase of 4,207 additional shares.
• Several other institutional investors also boosted their stakes in GE Aerospace, including Raymond James Financial, which raised its stake by 65.8% during the same period.
• Analyst sentiment is positive, with multiple firms raising their price targets for GE Aerospace, including Barclays, which increased its target from $230 to $295, and Citigroup, which set a target of $296.

Steward Partners Investment Advisory LLC raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,011 shares of the company's stock after purchasing an additional 4,207 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in GE Aerospace were worth $21,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. increased its stake in GE Aerospace by 65.8% during the 1st quarter. Raymond James Financial Inc. now owns 1,930,763 shares of the company's stock valued at $386,442,000 after purchasing an additional 766,374 shares in the last quarter. Eaton Financial Holdings Company LLC increased its stake in GE Aerospace by 10.3% during the 1st quarter. Eaton Financial Holdings Company LLC now owns 1,407 shares of the company's stock valued at $282,000 after purchasing an additional 131 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in GE Aerospace during the 1st quarter valued at $337,000. Cresset Asset Management LLC increased its stake in GE Aerospace by 3.4% during the 1st quarter. Cresset Asset Management LLC now owns 21,086 shares of the company's stock valued at $4,228,000 after purchasing an additional 686 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC increased its stake in GE Aerospace by 20.9% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 12,079 shares of the company's stock valued at $2,418,000 after purchasing an additional 2,087 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

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

GE Aerospace Price Performance

Shares of NYSE:GE opened at $267.62 on Friday. The company's 50-day moving average is $257.44 and its 200 day moving average is $224.35. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market capitalization of $283.79 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 2.88 and a beta of 1.44. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. On average, equities research analysts forecast 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. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

About GE Aerospace

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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