Drive Wealth Management LLC Acquires 315 Shares of GE Aerospace $GE

Drive Wealth Management LLC boosted its holdings in GE Aerospace (NYSE:GE) by 11.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,120 shares of the company’s stock after purchasing an additional 315 shares during the quarter. Drive Wealth Management LLC’s holdings in GE Aerospace were worth $803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Brighton Jones LLC increased its stake in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC increased its stake in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC increased its stake in GE Aerospace by 18.5% in the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company’s stock worth $5,066,000 after purchasing an additional 3,946 shares during the period. Advisor Resource Council purchased a new position in shares of GE Aerospace during the first quarter valued at $549,000. Finally, Appleton Partners Inc. MA raised its holdings in shares of GE Aerospace by 14.7% in the first quarter. Appleton Partners Inc. MA now owns 4,269 shares of the company’s stock valued at $855,000 after acquiring an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GE shares. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. The Goldman Sachs Group lifted their target price on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Fifteen 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, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $276.31.

GE Aerospace Price Performance

GE opened at $300.60 on Monday. The business’s 50-day moving average is $286.07 and its two-hundred day moving average is $251.22. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market capitalization of $318.77 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its quarterly 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 return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The company’s revenue was up 21.2% on a year-over-year basis. Research analysts anticipate that GE Aerospace will post 5.4 earnings per share 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 yield of 0.5%. GE Aerospace’s payout ratio is presently 20.08%.

GE Aerospace Company 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.