GE Aerospace $GE Stock Position Increased by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. boosted its position in GE Aerospace (NYSE:GE) by 4.2% during the 1st quarter, HoldingsChannel reports. The firm owned 7,088 shares of the company’s stock after buying an additional 283 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in GE Aerospace were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after purchasing an additional 692,124 shares during the last quarter. Northern Trust Corp lifted its position in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the last quarter. Invesco Ltd. lifted its position in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the last quarter. GQG Partners LLC bought a new stake in GE Aerospace in the 1st quarter valued at about $1,606,840,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE Aerospace by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company’s stock valued at $1,198,382,000 after purchasing an additional 628,458 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GE has been the topic of several recent research reports. Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of GE opened at $268.46 on Tuesday. The firm’s 50 day moving average is $257.78 and its 200-day moving average is $224.93. The stock has a market capitalization of $284.69 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50.

GE Aerospace (NYSE:GE) last announced 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 company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

GE Aerospace 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.