1,149 Shares in GE Aerospace $GE Bought by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC purchased a new position in shares of GE Aerospace (NYSE:GE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,149 shares of the company’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the 1st quarter valued at about $28,000. Nova Wealth Management Inc. acquired a new stake in GE Aerospace during the first quarter worth about $29,000. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace during the first quarter worth about $30,000. First Pacific Financial raised its holdings in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the first quarter valued at approximately $33,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GE shares. The Goldman Sachs Group lifted their price target on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Jefferies Financial Group lifted their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.13.

GE Aerospace Stock Up 0.3%

GE stock opened at $300.60 on Friday. The firm has a market cap of $318.77 billion, a PE ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. 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 has a 1 year low of $159.36 and a 1 year high of $307.25. The company has a fifty day simple moving average of $286.07 and a 200 day simple moving average of $250.42.

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, beating 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 net margin of 18.64% and a return on equity of 31.32%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. 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. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is currently 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.