Vestcor Inc Purchases 889 Shares of GE Aerospace (NYSE:GE)

Vestcor Inc increased its position in shares of GE Aerospace (NYSE:GE) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,925 shares of the company’s stock after purchasing an additional 889 shares during the quarter. Vestcor Inc’s holdings in GE Aerospace were worth $4,188,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rainey & Randall Wealth Advisors Inc. bought a new position in shares of GE Aerospace in the first quarter valued at about $203,000. Sendero Wealth Management LLC increased its position in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock valued at $3,004,000 after acquiring an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after acquiring an additional 8,245 shares in the last quarter. Global Assets Advisory LLC raised its stake in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after acquiring an additional 9,580 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of 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 purchasing an additional 1,204,910 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Citigroup reiterated a “buy” rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.92.

GE Aerospace Stock Up 1.1%

Shares of NYSE:GE opened at $273.19 on Thursday. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $273.80. The company has a market capitalization of $289.70 billion, a PE ratio of 38.10, a PEG ratio of 2.91 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a 50 day moving average price of $250.58 and a two-hundred day moving average price of $217.05.

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. The business 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 quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

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.