Parkshore Wealth Management Inc. Makes New Investment in GE Aerospace (NYSE:GE)

Parkshore Wealth Management Inc. acquired a new position in GE Aerospace (NYSE:GE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,714 shares of the company’s stock, valued at approximately $286,000.

A number of other institutional investors have also recently modified their holdings of the business. New Age Alpha Advisors LLC lifted its stake in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after buying an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in GE Aerospace during the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of GE Aerospace during the 4th quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new position in shares of GE Aerospace during the 4th quarter valued at about $29,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in GE Aerospace during the fourth quarter worth about $29,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Up 0.6 %

GE stock opened at $198.55 on Monday. The company has a 50 day moving average price of $194.36 and a two-hundred day moving average price of $186.66. GE Aerospace has a one year low of $150.20 and a one year high of $214.21. The stock has a market capitalization of $213.10 billion, a P/E ratio of 33.15, a PEG ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.29 by $0.20. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a $0.36 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is presently 22.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GE. Northcoast Research upgraded GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of GE Aerospace from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 price target on shares of GE Aerospace in a research note on Wednesday, April 23rd. Finally, Citigroup decreased their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $216.92.

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.