Cordatus Wealth Management LLC Raises Holdings in GE Aerospace (NYSE:GE)

Cordatus Wealth Management LLC grew its holdings in GE Aerospace (NYSE:GE) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,049 shares of the company’s stock after purchasing an additional 503 shares during the period. Cordatus Wealth Management LLC’s holdings in GE Aerospace were worth $3,412,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter worth $203,000. Sendero Wealth Management LLC lifted its holdings in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after buying an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Global Assets Advisory LLC raised its holdings in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after acquiring an additional 9,580 shares in the last quarter. Finally, Invesco Ltd. raised its stake in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

GE stock opened at $273.19 on Thursday. The firm has a 50-day simple moving average of $250.58 and a two-hundred day simple moving average of $217.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a one year low of $150.20 and a one year high of $273.80. The firm has a market cap of $289.70 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.91 and a beta of 1.37.

GE Aerospace (NYSE:GE) last announced its 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 net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. GE Aerospace’s revenue was up 21.2% compared to the same quarter last year. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Citigroup reiterated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $232.92.

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.