Waddell & Associates LLC Takes Position in GE Aerospace (NYSE:GE)

Waddell & Associates LLC purchased a new stake in shares of GE Aerospace (NYSE:GE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,615 shares of the company’s stock, valued at approximately $523,000.

A number of other large investors also recently modified their holdings of the business. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management grew its holdings in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after acquiring an additional 142 shares during the period. New Age Alpha Advisors LLC grew its holdings in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock worth $25,000 after acquiring an additional 84 shares during the period. O Brien Wealth Partners LLC acquired a new position in GE Aerospace during the first quarter worth about $33,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter worth about $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Finally, Citigroup reiterated a “buy” rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.92.

GE Aerospace Trading Up 1.2%

Shares of NYSE GE opened at $271.28 on Friday. GE Aerospace has a one year low of $150.20 and a one year high of $272.83. The firm has a market capitalization of $287.67 billion, a PE ratio of 37.84, a PEG ratio of 3.11 and a beta of 1.37. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $248.37 and a two-hundred day moving average price of $215.30.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data 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 firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company posted $1.20 EPS. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.53%. GE Aerospace’s dividend payout ratio is 20.08%.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

About GE Aerospace

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.