WealthCare Asset Management LLC Makes New $735,000 Investment in GE Aerospace $GE

WealthCare Asset Management LLC bought a new position in GE Aerospace (NYSE:GE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,355 shares of the company’s stock, valued at approximately $735,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC increased its stake in GE Aerospace by 3.5% in the third quarter. Flagship Harbor Advisors LLC now owns 10,990 shares of the company’s stock valued at $3,432,000 after acquiring an additional 369 shares during the last quarter. Westover Capital Advisors LLC raised its position in GE Aerospace by 19.8% during the third quarter. Westover Capital Advisors LLC now owns 1,652 shares of the company’s stock valued at $516,000 after purchasing an additional 273 shares in the last quarter. Peterson Wealth Services raised its position in GE Aerospace by 94.7% during the third quarter. Peterson Wealth Services now owns 440 shares of the company’s stock valued at $137,000 after purchasing an additional 214 shares in the last quarter. Leo Wealth LLC bought a new stake in GE Aerospace during the third quarter worth about $324,000. Finally, Apollon Wealth Management LLC lifted its stake in GE Aerospace by 0.3% during the third quarter. Apollon Wealth Management LLC now owns 82,947 shares of the company’s stock worth $25,903,000 after purchasing an additional 267 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. The Goldman Sachs Group reiterated a “buy” rating and issued a $410.00 price objective on shares of GE Aerospace in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $378.00 price objective on shares of GE Aerospace in a report on Wednesday, October 21st. Guggenheim set a $380.00 target price on GE Aerospace in a research report on Wednesday, October 21st. UBS Group restated a “buy” rating and issued a $380.00 target price (up from $377.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Finally, Citigroup reaffirmed a “buy” rating and issued a $431.00 target price (up from $353.00) on shares of GE Aerospace in a research note on Wednesday, July 1st. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Stock Performance

NYSE GE opened at $288.70 on Tuesday. The company has a 50-day simple moving average of $323.58 and a two-hundred day simple moving average of $323.67. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. GE Aerospace has a 12-month low of $268.91 and a 12-month high of $388.84. The firm has a market cap of $298.33 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 1.95 and a beta of 1.38.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion for the quarter, compared to analysts’ expectations of $12.88 billion. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. On average, equities analysts forecast that GE Aerospace will post 8.15 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 5th. This represents a $1.88 annualized dividend and a yield of 0.7%. GE Aerospace’s dividend payout ratio is currently 21.68%.

GE Aerospace Profile

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.