875 Shares in GE Aerospace $GE Acquired by Rockbridge Capital Management LLC

by · The Cerbat Gem

Rockbridge Capital Management LLC purchased a new position in shares of GE Aerospace (NYSE:GE – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 875 shares of the company’s stock, valued at approximately $225,000. GE Aerospace accounts for 0.1% of Rockbridge Capital Management LLC’s holdings, making the stock its 25th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. raised its stake in GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock worth $437,000 after buying an additional 331 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of GE Aerospace by 17.1% in the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after purchasing an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace in the first quarter worth approximately $203,000. Concurrent Investment Advisors LLC raised its stake in shares of GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC raised its stake in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GE shares. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Citigroup reissued a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. TD Cowen increased their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Wolfe Research increased their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen downgraded GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $267.13.

Check Out Our Latest Stock Report on GE

GE Aerospace Stock Performance

GE stock opened at $300.49 on Thursday. The firm has a market cap of $318.65 billion, a PE ratio of 41.91, a P/E/G ratio of 3.23 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average of $285.00 and a 200-day moving average of $249.07. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25.

GE Aerospace (NYSE:GE – Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (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 analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. As a group, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio is 20.08%.

About GE Aerospace

(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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