International Assets Investment Management LLC Boosts Holdings in GE Aerospace $GE

International Assets Investment Management LLC raised its holdings in shares of GE Aerospace (NYSE:GE) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,616 shares of the company’s stock after purchasing an additional 1,137 shares during the period. International Assets Investment Management LLC’s holdings in GE Aerospace were worth $4,019,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Old North State Wealth Management LLC grew its holdings in shares of GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after buying an additional 39 shares in the last quarter. Stephens Consulting LLC grew its holdings in GE Aerospace by 18.0% in the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares during the period. Webster Bank N. A. grew its holdings in GE Aerospace by 2.1% in the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after purchasing an additional 41 shares during the period. Pacific Sage Partners LLC grew its holdings in GE Aerospace by 3.5% in the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after purchasing an additional 41 shares during the period. Finally, Ascent Capital Management LLC grew its holdings in GE Aerospace by 1.9% in the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock valued at $585,000 after purchasing an additional 42 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 0.3%

NYSE GE opened at $300.60 on Friday. The company’s fifty day simple moving average is $286.07 and its 200-day simple moving average is $250.77. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market cap of $318.77 billion, a P/E ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal 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 given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Wolfe Research boosted their target price on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Citigroup restated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. 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. Finally, TD Cowen boosted their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.13.

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.