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

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after buying an additional 5,044,632 shares during the period. Janus Henderson Group PLC grew its position in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after acquiring an additional 1,673,365 shares during the last quarter. Nuveen Asset Management LLC grew its position in GE Aerospace by 32.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock valued at $576,034,000 after acquiring an additional 838,954 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of GE Aerospace by 11.5% during 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 purchasing an additional 781,574 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after purchasing an additional 692,124 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Down 4.1%

GE Aerospace stock traded down $11.36 on Wednesday, hitting $268.27. 5,085,618 shares of the stock traded hands, compared to its average volume of 6,077,404. 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 firm has a market cap of $284.48 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The business's fifty day simple moving average is $256.48 and its 200 day simple moving average is $222.83. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $281.50.

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

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 presently 20.08%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GE shares. 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. Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Barclays raised their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $232.92.

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.