Atlas Wealth LLC Sells 258 Shares of GE Aerospace (NYSE:GE)

Atlas Wealth LLC cut its holdings in GE Aerospace (NYSE:GE) by 8.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,708 shares of the company’s stock after selling 258 shares during the quarter. Atlas Wealth LLC’s holdings in GE Aerospace were worth $542,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GE. New Age Alpha Advisors LLC increased its stake in GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the 1st quarter worth approximately $28,000. Finally, Copia Wealth Management lifted its position in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of research analyst reports. Citigroup reissued a “buy” rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.92.

GE Aerospace Trading Up 1.1%

Shares of NYSE:GE opened at $273.19 on Thursday. The stock has a 50 day moving average of $250.58 and a 200 day moving average of $217.05. The company has a market cap of $289.70 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 2.91 and a beta of 1.37. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $273.80. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last posted 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 business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. 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.