Nvest Financial LLC Increases Holdings in GE Aerospace $GE

by · The Markets Daily

Nvest Financial LLC grew its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 4.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,091 shares of the company’s stock after buying an additional 42 shares during the period. Nvest Financial LLC’s holdings in GE Aerospace were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. lifted its holdings 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 last quarter. Smartleaf Asset Management LLC boosted its position in shares of GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after purchasing an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $203,000. Concurrent Investment Advisors LLC boosted its position in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC boosted its position in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GE shares. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Wolfe Research upped their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Citigroup reissued a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $267.13.

Check Out Our Latest Analysis on GE

GE Aerospace Stock Performance

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

GE Aerospace (NYSE:GE – Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The business 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%.The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

GE Aerospace 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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