895 Shares in GE Aerospace $GE Purchased by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. acquired a new position in GE Aerospace (NYSE:GE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 895 shares of the company’s stock, valued at approximately $230,000.

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

GE Aerospace Price Performance

NYSE GE opened at $300.60 on Friday. 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 firm’s 50 day moving average price is $286.07 and its 200-day moving average price 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 market cap of $318.77 billion, a PE ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its quarterly earnings data 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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen upped their target price 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. Jefferies Financial Group upped their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wolfe Research upped their target price on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Finally, Barclays upped their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $267.13.

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.