Banco Santander S.A. Raises Stock Holdings in GE Aerospace (NYSE:GE)

Key Points

• Banco Santander S.A. significantly increased its stake in GE Aerospace by 251.1%, holding 14,351 shares worth approximately $2.87 million after acquiring an additional 10,263 shares in the first quarter.
• Several institutional investors, including FMR LLC and Northern Trust Corp, also raised their holdings in GE Aerospace, with the total institutional ownership reaching 74.77%.
• GE Aerospace reported strong earnings with an EPS of $1.66, surpassing expectations of $1.43, and announced a quarterly dividend of $0.36, reflecting a 0.5% yield.

Banco Santander S.A. grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 251.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,351 shares of the company's stock after buying an additional 10,263 shares during the quarter. Banco Santander S.A.'s holdings in GE Aerospace were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management boosted its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the first quarter worth $33,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter valued at $28,000. Finally, First Pacific Financial increased its stake in shares of GE Aerospace by 46.0% in 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 during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada raised their price target 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 raised their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One equities research 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 0.1%

Shares of GE stock traded down $0.39 during mid-day trading on Thursday, hitting $271.89. The company's stock had a trading volume of 2,981,426 shares, compared to its average volume of 6,123,882. The business has a 50-day moving average price of $254.17 and a 200 day moving average price of $220.28. The stock has a market cap of $288.33 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.93 and a beta of 1.44. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $277.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business posted $1.20 earnings per share. The business's quarterly revenue was up 21.2% compared to the same quarter last year. Research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is 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.