Zions Bancorporation National Association UT Acquires Shares of 2,897 GE Aerospace (NYSE:GE)

Key Points

• Zions Bancorporation National Association UT acquired 2,897 shares in GE Aerospace, valued at approximately $580,000, highlighting new institutional interest in the company.
• GE Aerospace recently reported $1.66 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 21.2% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.36, representing an annualized yield of 0.5%, with a dividend payout ratio of 20.08%.

Zions Bancorporation National Association UT acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,897 shares of the company's stock, valued at approximately $580,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in GE Aerospace by 0.8% in the first 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. Northern Trust Corp increased its position in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after buying an additional 553,104 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GE Aerospace by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock worth $1,198,382,000 after purchasing an additional 628,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in GE Aerospace by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,946,051 shares of the company's stock worth $1,390,252,000 after purchasing an additional 213,234 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company upped their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" 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 note on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $0.24 during mid-day trading on Monday, hitting $275.25. 3,358,594 shares of the stock were exchanged, compared to its average volume of 5,987,507. 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 company has a market capitalization of $291.89 billion, a P/E ratio of 38.39, a P/E/G ratio of 2.96 and a beta of 1.44. The company has a 50-day simple moving average of $255.31 and a 200 day simple moving average of $221.88. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $277.18.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 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.