Tower Bridge Advisors Acquires 300 Shares of GE Aerospace (NYSE:GE)

Tower Bridge Advisors raised its holdings in shares of GE Aerospace (NYSE:GE) by 11.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,930 shares of the company’s stock after purchasing an additional 300 shares during the period. Tower Bridge Advisors’ holdings in GE Aerospace were worth $586,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GE. Baader Bank Aktiengesellschaft boosted its stake in shares of GE Aerospace by 15.9% during the first quarter. Baader Bank Aktiengesellschaft now owns 9,583 shares of the company’s stock valued at $1,893,000 after purchasing an additional 1,316 shares in the last quarter. Wellington Shields & Co. LLC raised its position in shares of GE Aerospace by 4.3% in the 1st quarter. Wellington Shields & Co. LLC now owns 10,234 shares of the company’s stock worth $2,048,000 after acquiring an additional 419 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its stake in GE Aerospace by 3.0% in the first quarter. Mesirow Financial Investment Management Inc. now owns 16,796 shares of the company’s stock valued at $3,362,000 after purchasing an additional 484 shares during the last quarter. Eastern Bank raised its holdings in GE Aerospace by 2.2% in the first quarter. Eastern Bank now owns 10,126 shares of the company’s stock worth $2,027,000 after purchasing an additional 218 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in shares of GE Aerospace by 4.4% in the 1st quarter. Vestcor Inc now owns 20,925 shares of the company’s stock valued at $4,188,000 after buying an additional 889 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several analyst reports. Citigroup reiterated a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays raised their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. 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 an average rating of “Moderate Buy” and a consensus price target of $232.92.

GE Aerospace Stock Down 0.2%

GE opened at $269.96 on Wednesday. The company has a fifty day moving average of $249.79 and a two-hundred day moving average of $216.66. The stock has a market capitalization of $286.28 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 3.04 and a beta of 1.37. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $273.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm 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 revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. On average, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

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.