Callahan Advisors LLC Invests $256,000 in GE Aerospace $GE

Key Points

• Callahan Advisors LLC has made a new investment in GE Aerospace by purchasing 996 shares valued at approximately $256,000.
• GE Aerospace's recent earnings report showed EPS of $1.66, exceeding analysts' expectations, with revenue reaching $10.15 billion for the quarter, a 21.2% increase year-over-year.
• The company declared a quarterly dividend of $0.36 per share, set to be paid on October 27th, with an annualized yield of 0.5%.

Callahan Advisors LLC purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 996 shares of the company's stock, valued at approximately $256,000.

Several other institutional investors have also modified their holdings of GE. GQG Partners LLC bought a new stake in GE Aerospace during the 1st quarter valued at $1,606,840,000. Nuveen LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at approximately $777,075,000. Amundi lifted its stake in GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after purchasing an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in GE Aerospace by 7,406.4% in the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company's stock valued at $242,624,000 after buying an additional 1,196,060 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Up 0.1%

GE Aerospace stock opened at $300.49 on Thursday. The firm has a 50 day moving average price of $285.00 and a two-hundred day moving average price of $249.07. The firm has a market cap of $318.65 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 3.23 and a beta of 1.49. 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 has a 52-week low of $159.36 and a 52-week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) 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 the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is currently 20.08%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. TD Cowen raised their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Finally, Jefferies Financial Group lifted their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $267.13.

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.

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