Lyell Wealth Management LP Raises Stock Position in GE Aerospace $GE

Lyell Wealth Management LP boosted its position in shares of GE Aerospace (NYSE:GE) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,424 shares of the company’s stock after purchasing an additional 89 shares during the period. Lyell Wealth Management LP’s holdings in GE Aerospace were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after purchasing an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Invesco Ltd. raised its stake in shares of GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after acquiring an additional 54,765 shares during the period. GQG Partners LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after acquiring an additional 491,207 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 1.0%

NYSE GE opened at $303.15 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The stock has a market capitalization of $321.48 billion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The firm has a 50 day moving average of $286.62 and a two-hundred day moving average of $252.17.

GE Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $276.31.

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.