Walled Lake Planning & Wealth Management LLC Takes $229,000 Position in GE Aerospace (NYSE:GE)

Key Points

• Walled Lake Planning & Wealth Management LLC recently acquired a new position in GE Aerospace, purchasing 1,144 shares valued at approximately $229,000.
• Institutional investors collectively own 74.77% of GE Aerospace, with several firms significantly increasing their holdings during recent quarters.
• GE Aerospace reported strong earnings with a 21.2% increase in revenue year-over-year, achieving an EPS of $1.66 for the latest quarter, surpassing estimates.

Walled Lake Planning & Wealth Management LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,144 shares of the company's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GE. 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 valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Janus Henderson Group PLC increased its position in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after purchasing an additional 1,673,365 shares in the last quarter. Invesco Ltd. increased its position in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. FMR LLC increased its position in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in GE Aerospace by 32.1% in the 4th quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock valued at $576,034,000 after acquiring an additional 838,954 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $270.58 on Tuesday. The firm has a 50-day moving average of $249.09 and a 200-day moving average of $216.28. The company has a market cap of $286.93 billion, a P/E ratio of 37.74, a P/E/G ratio of 3.11 and a beta of 1.37. 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 has a one year low of $150.20 and a one year high of $273.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 net margin of 18.64% and a return on equity of 31.32%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Ratings Changes

Several equities analysts have issued reports on GE shares. UBS Group upped their price target 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. Royal Bank Of Canada increased their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. One 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, GE Aerospace currently has an average 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.

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