Bell & Brown Wealth Advisors LLC Lowers Stake in GE Aerospace $GE

Bell & Brown Wealth Advisors LLC cut its position in GE Aerospace (NYSE:GE) by 3.1% in the second quarter, HoldingsChannel.com reports. The firm owned 3,939 shares of the company’s stock after selling 125 shares during the quarter. Bell & Brown Wealth Advisors LLC’s holdings in GE Aerospace were worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kanawha Capital Management LLC lifted its stake in shares of GE Aerospace by 0.6% during the 2nd quarter. Kanawha Capital Management LLC now owns 10,546 shares of the company’s stock valued at $2,714,000 after buying an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in GE Aerospace by 7.1% during the second quarter. Stratos Wealth Partners LTD. now owns 18,033 shares of the company’s stock valued at $4,642,000 after acquiring an additional 1,199 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of GE Aerospace by 37.1% in the second quarter. Stratos Wealth Advisors LLC now owns 5,359 shares of the company’s stock valued at $1,379,000 after acquiring an additional 1,451 shares in the last quarter. Private Trust Co. NA lifted its position in shares of GE Aerospace by 7.5% in the second quarter. Private Trust Co. NA now owns 4,905 shares of the company’s stock valued at $1,262,000 after acquiring an additional 344 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in shares of GE Aerospace by 9.5% in the second quarter. Angeles Wealth Management LLC now owns 3,672 shares of the company’s stock worth $945,000 after acquiring an additional 320 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Up 0.3%

GE opened at $300.60 on Friday. The stock has a 50-day moving average of $286.07 and a 200 day moving average of $250.42. 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 12 month low of $159.36 and a 12 month high of $307.25. The firm has a market cap of $318.77 billion, a P/E ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49.

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, beating the consensus estimate 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 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 company earned $1.20 EPS. As a group, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 20.08%.

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. TD Cowen boosted their price target on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, UBS Group boosted their price target 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. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $267.13.

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.