Salomon & Ludwin LLC Grows Position in GE Aerospace $GE

Salomon & Ludwin LLC lifted its holdings in shares of GE Aerospace (NYSE:GE) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,404 shares of the company’s stock after buying an additional 258 shares during the period. Salomon & Ludwin LLC’s holdings in GE Aerospace were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the first quarter worth about $28,000. Nova Wealth Management Inc. bought a new stake in GE Aerospace during the 1st quarter valued at approximately $29,000. Wealth Preservation Advisors LLC bought a new stake in GE Aerospace during the 1st quarter valued at approximately $30,000. First Pacific Financial raised its stake in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC bought a new stake in GE Aerospace during the 1st quarter valued at approximately $33,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GE shares. Citigroup restated a “buy” rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Wolfe Research raised their price target on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $267.13.

GE Aerospace Trading Up 0.3%

Shares of NYSE GE opened at $300.60 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $286.07 and a two-hundred day simple moving average of $250.77. The firm has a market cap 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 twelve month low of $159.36 and a twelve month high of $307.25.

GE Aerospace (NYSE:GE) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s payout ratio is presently 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.