1,006 Shares in GE Aerospace (NYSE:GE) Acquired by New Jersey Better Educational Savings Trust

New Jersey Better Educational Savings Trust bought a new position in shares of GE Aerospace (NYSE:GE) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 1,006 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace during the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace during the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the 1st quarter valued at $28,000. Finally, Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 0.6%

NYSE GE opened at $269.49 on Friday. The stock has a fifty day moving average of $252.13 and a 200-day moving average of $218.37. The stock has a market capitalization of $285.78 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $274.94. 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 released its earnings results on Thursday, July 17th. The company reported $1.66 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 company had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 20.08%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GE. UBS Group raised their price target on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Citigroup reaffirmed a “buy” rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Barclays raised their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. One 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.