GE Aerospace $GE Shares Bought by Salomon & Ludwin LLC

Salomon & Ludwin LLC boosted its holdings in shares of GE Aerospace (NYSE:GE) by 22.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,404 shares of the company’s stock after buying an additional 258 shares during the quarter. Salomon & Ludwin LLC’s holdings in GE Aerospace were worth $344,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on GE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Jefferies Financial Group increased their target price on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Royal Bank Of Canada increased their target price on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group increased 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. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $267.13.

GE Aerospace Trading Up 0.3%

Shares of GE Aerospace stock opened at $300.60 on Friday. The firm has a market capitalization of $318.77 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a 50 day moving average of $286.07 and a 200 day moving average of $250.77.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

About GE Aerospace

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.