WealthPlan Investment Management LLC Acquires Shares of 1,149 GE Aerospace $GE

WealthPlan Investment Management LLC acquired a new stake in GE Aerospace (NYSE:GE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,149 shares of the company’s stock, valued at approximately $296,000.

A number of other institutional investors also recently added to or reduced their stakes in GE. Old North State Wealth Management LLC boosted its stake in shares of GE Aerospace by 1.9% during the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after acquiring an additional 39 shares in the last quarter. Stephens Consulting LLC boosted its stake in shares of GE Aerospace by 18.0% during the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock worth $66,000 after acquiring an additional 39 shares in the last quarter. Webster Bank N. A. boosted its stake in shares of GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC boosted its stake in shares of GE Aerospace by 3.5% during the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC boosted its stake in shares of GE Aerospace by 1.9% during the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, TD Cowen lifted their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.13.

GE Aerospace Trading Up 0.3%

Shares of GE opened at $300.60 on Friday. The stock has a fifty day moving average of $286.07 and a two-hundred day moving average of $250.42. 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 market capitalization of $318.77 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25.

GE Aerospace (NYSE:GE) last issued 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. 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 the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.20 EPS. GE Aerospace’s revenue was up 21.2% on a year-over-year basis. As a group, 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 will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio 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.