Stratos Wealth Partners LTD. Boosts Stake in GE Aerospace $GE

Key Points

• Stratos Wealth Partners LTD. increased its stake in GE Aerospace by 7.1% in Q2, owning 18,033 shares valued at $4.64 million.
• GE Aerospace reported earnings of $1.66 EPS for the most recent quarter, beating estimates and reflecting a revenue increase of 21.2% year-over-year.
• The company has announced a quarterly dividend of $0.36 per share, set to be paid on October 27th, with a dividend yield of 0.5%.

Stratos Wealth Partners LTD. lifted its position in GE Aerospace (NYSE:GE - Free Report) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,033 shares of the company's stock after purchasing an additional 1,199 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in GE Aerospace were worth $4,642,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the first quarter worth approximately $28,000. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the 1st quarter worth $29,000. Wealth Preservation Advisors LLC acquired a new position in GE Aerospace in the first quarter valued at $30,000. O Brien Wealth Partners LLC acquired a new position in GE Aerospace in the first quarter valued at $33,000. Finally, First Pacific Financial raised its holdings in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.3%

GE Aerospace stock opened at $300.60 on Friday. The stock's 50 day moving average price is $286.07 and its 200 day moving average price is $250.77. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The company has a market cap of $318.77 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. On average, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen boosted their price target on GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, October 10th. Finally, Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $267.13.

GE Aerospace 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.

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