Cookson Peirce & Co. Inc. Boosts Stock Position in GE Aerospace (NYSE:GE)

Cookson Peirce & Co. Inc. increased its stake in shares of GE Aerospace (NYSE:GE) by 9.0% in the first quarter, HoldingsChannel reports. The firm owned 8,256 shares of the company’s stock after buying an additional 685 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in GE Aerospace were worth $1,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Putney Financial Group LLC purchased a new stake in GE Aerospace during the 4th quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management boosted its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after buying an additional 142 shares during the last quarter. First Pacific Financial boosted its stake in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GE shares. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. UBS Group raised 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. Finally, Citigroup reissued a “buy” rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $269.09 on Thursday. The company has a market cap of $285.35 billion, a P/E ratio of 37.53, a PEG ratio of 3.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a one year low of $159.36 and a one year high of $281.50. The business’s 50-day simple moving average is $256.84 and its 200 day simple moving average is $223.15.

GE Aerospace (NYSE:GE) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. On average, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio is currently 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.