Financial Perspectives Inc Boosts Stock Position in GE Aerospace $GE

Financial Perspectives Inc raised its position in shares of GE Aerospace (NYSE:GE) by 13.7% during the 2nd quarter, Holdings Channel reports. The firm owned 1,764 shares of the company’s stock after buying an additional 212 shares during the quarter. Financial Perspectives Inc’s holdings in GE Aerospace were worth $454,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. First Interstate Bank purchased a new stake in GE Aerospace during the 2nd quarter valued at about $210,000. Drive Wealth Management LLC grew its stake in GE Aerospace by 11.2% during the 2nd quarter. Drive Wealth Management LLC now owns 3,120 shares of the company’s stock valued at $803,000 after purchasing an additional 315 shares during the last quarter. Canvas Wealth Advisors LLC purchased a new stake in GE Aerospace during the 2nd quarter valued at about $329,000. Princeton Global Asset Management LLC grew its stake in GE Aerospace by 12.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 600 shares of the company’s stock valued at $154,000 after purchasing an additional 67 shares during the last quarter. Finally, Townsend & Associates Inc grew its stake in GE Aerospace by 12.5% during the 2nd quarter. Townsend & Associates Inc now owns 1,687 shares of the company’s stock valued at $458,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on GE. Wolfe Research raised their target price on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $276.31.

GE Aerospace Stock Performance

NYSE GE opened at $300.60 on Monday. The stock has a market capitalization of $318.77 billion, a price-to-earnings ratio of 41.92, a PEG 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. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $286.07 and a 200 day moving average of $251.22.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.20 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend 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.