GE Aerospace (NYSE:GE) Holdings Raised by Patten & Patten Inc. TN

Patten & Patten Inc. TN grew its stake in shares of GE Aerospace (NYSE:GE) by 2.1% in the 1st quarter, HoldingsChannel reports. The firm owned 13,000 shares of the company’s stock after acquiring an additional 269 shares during the quarter. Patten & Patten Inc. TN’s holdings in GE Aerospace were worth $2,602,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GE. 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 worth $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace in the 4th quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the 1st quarter worth about $28,000. Finally, Copia Wealth Management lifted its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE Aerospace stock opened at $271.28 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market capitalization of $287.67 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. GE Aerospace has a one year low of $150.20 and a one year high of $272.83. The business has a 50 day simple moving average of $248.37 and a 200 day simple moving average of $215.59.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data 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. 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 the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction on 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 of the company’s stock, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GE shares. UBS Group increased their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.92.

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.