Forvis Mazars Wealth Advisors LLC Has $3.23 Million Stock Position in GE Aerospace $GE

Forvis Mazars Wealth Advisors LLC boosted its stake in GE Aerospace (NYSE:GE) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,544 shares of the company’s stock after buying an additional 465 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in GE Aerospace were worth $3,229,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after buying an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after buying an additional 1,492,486 shares during the last quarter. Invesco Ltd. grew its position in shares of GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after purchasing an additional 54,765 shares in the last quarter. GQG Partners LLC acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of GE Aerospace by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock worth $1,536,387,000 after purchasing an additional 491,207 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $300.60 on Friday. The company has a 50 day moving average of $286.07 and a 200-day moving average of $250.77. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market cap 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 net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio is 20.08%.

Analyst Ratings Changes

A number of brokerages have issued reports on GE. 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 research report on Tuesday, October 7th. The Goldman Sachs Group increased their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Jefferies Financial Group increased their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

GE Aerospace 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.