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Banco Santander S.A. Acquires 10,263 Shares of GE Aerospace (NYSE:GE)

GE Aerospace logo with Aerospace background

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.
  • Five stocks we like better than GE Aerospace.

Banco Santander S.A. grew its stake in GE Aerospace (NYSE:GE - Free Report) by 251.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,351 shares of the company's stock after acquiring an additional 10,263 shares during the period. Banco Santander S.A.'s holdings in GE Aerospace were worth $2,872,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after acquiring an additional 150 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of GE Aerospace by 15.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 6,654 shares of the company's stock worth $1,109,000 after acquiring an additional 871 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of GE Aerospace during the fourth quarter worth approximately $668,000. Finally, KCM Investment Advisors LLC boosted its holdings in shares of GE Aerospace by 10.5% during the fourth quarter. KCM Investment Advisors LLC now owns 4,708 shares of the company's stock worth $785,000 after acquiring an additional 447 shares during the period. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GE. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Citigroup reiterated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

Get Our Latest Stock Report on GE Aerospace

GE Aerospace Price Performance

GE traded up $6.75 during trading on Monday, hitting $276.13. 3,741,874 shares of the stock traded hands, compared to its average volume of 6,558,105. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $276.85. The company has a market cap of $292.82 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The business has a 50 day moving average price of $252.99 and a 200 day moving average price of $219.56.

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, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is presently 20.08%.

GE Aerospace Profile

(Free Report)

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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Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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