MGO One Seven LLC Has $9.10 Million Position in GE Aerospace (NYSE:GE)

MGO One Seven LLC raised its holdings in GE Aerospace (NYSE:GE) by 14.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,477 shares of the company’s stock after buying an additional 5,845 shares during the quarter. MGO One Seven LLC’s holdings in GE Aerospace were worth $9,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rainey & Randall Wealth Advisors Inc. acquired a new stake in GE Aerospace during the first quarter worth about $203,000. Sendero Wealth Management LLC grew its holdings in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after buying an additional 8,245 shares in the last quarter. Global Assets Advisory LLC boosted its stake in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after buying an additional 9,580 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of GE stock opened at $273.19 on Thursday. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $273.80. The firm’s 50 day moving average is $250.58 and its 200-day moving average is $217.05. The firm has a market capitalization of $289.70 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.91 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.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for 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 business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. 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 declared 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 dividend payout ratio (DPR) is presently 20.08%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GE shares. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Citigroup reaffirmed a “buy” rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. UBS Group boosted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $232.92.

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.