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Wealthedge Investment Advisors LLC Invests $668,000 in GE Aerospace (NYSE:GE)

GE Aerospace logo with Aerospace background

Key Points

  • Wealthedge Investment Advisors LLC has invested approximately $668,000 in GE Aerospace by purchasing 3,335 shares in the first quarter.
  • GE Aerospace reported a strong quarterly earnings performance with an earnings per share of $1.66, exceeding analysts' estimates and achieving revenue of $10.15 billion, up 21.2% year-over-year.
  • The company declared a quarterly dividend of $0.36 per share, representing an annualized dividend yield of 0.5% and a payout ratio of 20.08%.
  • Looking to export and analyze GE Aerospace data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Wealthedge Investment Advisors LLC bought a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,335 shares of the company's stock, valued at approximately $668,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $28,000. Copia Wealth Management grew its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares in the last quarter. First Pacific Financial grew its stake in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GE shares. Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research note on Friday. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Citigroup reissued a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.92.

Get Our Latest Analysis on GE

GE Aerospace Stock Performance

Shares of GE stock traded down $2.08 during trading hours on Friday, reaching $267.62. 5,202,309 shares of the company's stock were exchanged, compared to its average volume of 4,687,750. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50. The stock has a market capitalization of $283.79 billion, a P/E ratio of 37.32, a P/E/G ratio of 2.88 and a beta of 1.44. The business has a fifty day moving average price of $257.44 and a 200-day moving average price of $224.35. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping 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 company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The company's quarterly revenue was up 21.2% compared to the same quarter last year. Analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

GE Aerospace Company Profile

(Free Report)

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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Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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