Princeton Global Asset Management LLC Grows Position in GE Aerospace $GE

Princeton Global Asset Management LLC boosted its stake in GE Aerospace (NYSE:GE) by 12.6% in the second quarter, Holdings Channel.com reports. The firm owned 600 shares of the company’s stock after acquiring an additional 67 shares during the quarter. Princeton Global Asset Management LLC’s holdings in GE Aerospace were worth $154,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the first quarter valued at approximately $28,000. Nova Wealth Management Inc. purchased a new stake in GE Aerospace in the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new stake in GE Aerospace in the first quarter valued at approximately $30,000. O Brien Wealth Partners LLC purchased a new stake in GE Aerospace in the first quarter valued at approximately $33,000. Finally, First Pacific Financial grew its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. TD Cowen lifted their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. UBS Group lifted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $276.31.

GE Aerospace Trading Up 1.0%

NYSE GE opened at $303.15 on Tuesday. The stock has a market cap of $321.48 billion, a P/E ratio of 42.28, a PEG ratio of 3.23 and a beta of 1.49. The company’s fifty day simple moving average is $286.62 and its 200-day simple moving average is $252.17. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25.

GE Aerospace Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is 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.