GE Aerospace $GE Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in GE Aerospace by 0.9%, acquiring an additional 11,460 shares, bringing its total ownership to approximately 1,335,492 shares valued at $267.35 million.
• GE Aerospace reported quarterly earnings of $1.66 per share, beating estimates by $0.23, with revenues of $10.15 billion, up 21.2% from the previous year.
• Analysts remain optimistic, with Citigroup and Royal Bank of Canada issuing higher price targets and maintaining a "buy" rating on GE Aerospace stock, which has a consensus target price of $232.92.

Ameriprise Financial Inc. increased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,335,492 shares of the company's stock after acquiring an additional 11,460 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of GE Aerospace worth $267,347,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GE. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. First Pacific Financial increased its holdings in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Barclays raised their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Up 0.1%

GE stock traded up $0.20 during mid-day trading on Monday, hitting $266.73. 4,300,391 shares of the company were exchanged, compared to its average volume of 5,992,907. The company has a market capitalization of $282.85 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 2.87 and a beta of 1.44. The firm has a fifty day simple moving average of $259.88 and a 200 day simple moving average of $226.68. 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 twelve month low of $159.36 and a twelve month high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $1.20 EPS. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.

GE Aerospace Company 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.