Burford Brothers Inc. Purchases 105 Shares of GE Aerospace $GE

Burford Brothers Inc. raised its holdings in shares of GE Aerospace (NYSE:GE) by 0.9% in the second quarter, HoldingsChannel reports. The firm owned 12,155 shares of the company’s stock after buying an additional 105 shares during the quarter. GE Aerospace makes up 1.4% of Burford Brothers Inc.’s investment portfolio, making the stock its 15th biggest position. Burford Brothers Inc.’s holdings in GE Aerospace were worth $3,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ameriflex Group Inc. grew its stake in GE Aerospace by 23.5% in the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock worth $437,000 after purchasing an additional 331 shares during the period. Smartleaf Asset Management LLC raised its holdings in GE Aerospace by 17.1% in the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after buying an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. bought a new position in GE Aerospace in the 1st quarter valued at approximately $203,000. Concurrent Investment Advisors LLC lifted its holdings in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Finally, Global Assets Advisory LLC lifted its stake in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock valued at $2,751,000 after acquiring an additional 9,580 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. TD Cowen increased their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Jefferies Financial Group upped their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. 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 report on Thursday, October 9th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $267.13.

GE Aerospace Price Performance

GE Aerospace stock opened at $300.60 on Friday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm’s fifty day moving average is $286.07 and its 200 day moving average is $250.77. The company has a market cap of $318.77 billion, a price-to-earnings 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 earnings per share 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 firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’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 business 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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is presently 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.