1,207 Shares in GE Aerospace (NYSE:GE) Acquired by Sather Financial Group Inc

Key Points

• Sather Financial Group Inc acquired 1,207 shares of GE Aerospace, valued at approximately $242,000, during the 1st quarter.
• GE Aerospace reported $1.66 earnings per share for the quarter, surpassing analysts' expectations and showing a 21.2% year-over-year revenue increase.
• The company also paid a quarterly dividend of $0.36 per share, representing an annualized yield of 0.53%.

Sather Financial Group Inc bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,207 shares of the company's stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC grew its stake in GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the period. Northern Trust Corp increased its holdings in GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after purchasing an additional 553,104 shares in the last quarter. Invesco Ltd. increased its holdings in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in GE Aerospace by 11.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock valued at $1,259,438,000 after buying an additional 781,574 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

GE Aerospace Price Performance

GE stock opened at $271.28 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The business has a 50-day simple moving average of $248.37 and a two-hundred day simple moving average of $215.00. The company has a market capitalization of $287.67 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.37. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $272.83.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates 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 for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's dividend payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group raised 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. Finally, Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $232.92.

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.

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