Clough Capital Partners L P grew its holdings in GE Aerospace (NYSE:GE – Free Report) by 37.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,535 shares of the company’s stock after acquiring an additional 19,105 shares during the period. GE Aerospace comprises approximately 1.9% of Clough Capital Partners L P’s portfolio, making the stock its 22nd largest position. Clough Capital Partners L P’s holdings in GE Aerospace were worth $20,016,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GE. Blueline Advisors LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth approximately $25,000. Ankerstar Wealth LLC purchased a new position in GE Aerospace in the fourth quarter worth approximately $31,000. Tucker Asset Management LLC purchased a new position in GE Aerospace in the fourth quarter worth approximately $32,000. Lifetime Wealth Management P.C. acquired a new position in GE Aerospace during the 4th quarter worth approximately $40,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in GE Aerospace by 72.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 141 shares of the company’s stock worth $42,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.
GE Aerospace Stock Down 0.0%
GE opened at $353.71 on Monday. The business has a 50 day moving average price of $341.50 and a two-hundred day moving average price of $319.64. The company has a quick ratio of 0.67, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The company has a market cap of $367.00 billion, a PE ratio of 41.66, a P/E/G ratio of 2.70 and a beta of 1.35. GE Aerospace has a 52 week low of $261.71 and a 52 week high of $382.97.
GE Aerospace Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Monday, July 6th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, July 6th. GE Aerospace’s payout ratio is 22.14%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. UBS Group raised their price target on GE Aerospace from $426.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Weiss Ratings raised GE Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 17th. President Capital dropped their price objective on GE Aerospace from $355.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $400.00 price objective (up from $355.00) on shares of GE Aerospace in a report on Wednesday, July 15th. Finally, Susquehanna reissued a “positive” rating and set a $430.00 target price (up from $380.00) on shares of GE Aerospace in a research report on Thursday, July 9th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.88.
Read Our Latest Report on GE Aerospace
GE Aerospace News Summary
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: GE Aerospace and CFM announced commitments for about 1,800 engines, highlighted by IndiGo’s order for more than 1,000 LEAP-1A engines — the largest single LEAP order ever and a major backlog booster. GE Aerospace Wraps Historic Farnborough Airshow
- Positive Sentiment: The company also won additional widebody engine business, including GEnx-1B orders for Philippine Airlines and AerCap, reinforcing demand in the commercial services and engines franchise. GE Aerospace Wraps Historic Farnborough Airshow
- Positive Sentiment: GE Aerospace said FAA and EASA certified durability upgrades for the LEAP-1B engine, which should reduce maintenance burden and improve engine time on wing — a favorable sign for margins and aftermarket revenue. GE Aerospace Concludes Farnborough Airshow with Record Engine Orders, Durability Advances and Hybrid Electric Flight Milestones
- Positive Sentiment: Management also highlighted a milestone in hybrid-electric flight above 30,000 feet and new defense-related collaborations, signaling continued investment in future aerospace technologies and military demand. GE Aerospace Wraps Historic Farnborough Airshow
- Neutral Sentiment: Several analyst notes and stock-trend articles are also keeping GE in focus, but the main stock-moving catalyst today appears to be the company’s strong order announcements and product-certificate news. GE Aerospace (GE) Is a Trending Stock: Facts to Know Before Betting on It
GE Aerospace Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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