Turtle Creek Wealth Advisors LLC Takes $684,000 Position in GE Aerospace $GE

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of GE Aerospace (NYSE:GE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,659 shares of the company’s stock, valued at approximately $684,000.

Several other institutional investors have also recently modified their holdings of GE. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the 1st quarter valued at about $28,000. Nova Wealth Management Inc. bought a new position in shares of GE Aerospace during the 1st quarter valued at about $29,000. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace during the 1st quarter valued at about $30,000. First Pacific Financial increased its position in shares of 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 last quarter. Finally, O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace during the 1st quarter valued at about $33,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. TD Cowen increased their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group raised their target price on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Citigroup reaffirmed a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold 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 $267.13.

GE Aerospace Stock Performance

GE stock opened at $299.52 on Friday. The company has a market cap of $317.62 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock’s fifty day moving average price is $285.55 and its 200-day moving average price is $249.76.

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

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

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.