Algert Global LLC Purchases Shares of 32,199 GE Aerospace $GE

Algert Global LLC purchased a new stake in shares of GE Aerospace (NYSE:GE) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 32,199 shares of the company’s stock, valued at approximately $6,445,000.

Several other institutional investors have also added to or reduced their stakes in GE. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace in the 4th quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management increased its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. First Pacific Financial increased its stake in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Finally, O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

GE opened at $267.62 on Monday. 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 company has a market cap of $283.79 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.88 and a beta of 1.44. The company’s 50 day moving average is $257.44 and its 200 day moving average is $224.48. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on GE shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research note on Friday. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.92.

GE Aerospace Company 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.