Liberty Square Wealth Partners LLC Takes Position in GE Aerospace $GE

Liberty Square Wealth Partners LLC bought a new stake in shares of GE Aerospace (NYSE:GE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 905 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds have also recently modified their holdings of the business. Old North State Wealth Management LLC grew its stake 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 valued at $542,000 after buying an additional 39 shares during the last quarter. Stephens Consulting LLC grew its stake 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 acquiring an additional 39 shares in the last quarter. Webster Bank N. A. grew its stake 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 acquiring an additional 41 shares in the last quarter. 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. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GE. Citigroup restated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. 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. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, 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. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $276.31.

GE Aerospace Price Performance

NYSE GE opened at $300.60 on Monday. 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 $251.22. 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 announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business 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 $0.36 dividend. The ex-dividend date of this dividend 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%.

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.