GE Aerospace (NYSE:GE) Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its holdings in GE Aerospace by 18.6%, owning a total of 20,241 shares valued at approximately $4.05 million at the end of the first quarter.
• Multiple hedge funds have adjusted their stakes in GE Aerospace, with notable changes including First Pacific Financial's 46.0% increase in ownership during the same period.
• GE Aerospace reported an earnings per share of $1.66 for the last quarter, surpassing the consensus estimate by $0.23, and its revenue increased by 21.2% compared to the previous year.

Callan Family Office LLC raised its holdings in GE Aerospace (NYSE:GE - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,241 shares of the company's stock after purchasing an additional 3,178 shares during the quarter. Callan Family Office LLC's holdings in GE Aerospace were worth $4,051,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Nuveen LLC purchased a new stake in shares of GE Aerospace during the 1st quarter worth about $777,075,000. Janus Henderson Group PLC boosted its stake in shares of GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of GE Aerospace by 32.1% during the 4th quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock worth $576,034,000 after acquiring an additional 838,954 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of GE Aerospace by 11.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after acquiring an additional 781,574 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GE shares. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Barclays upped their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

GE stock traded up $1.00 during mid-day trading on Thursday, reaching $269.86. The company's stock had a trading volume of 4,475,079 shares, compared to its average volume of 6,083,243. The stock has a market cap of $286.17 billion, a PE ratio of 37.64, a P/E/G ratio of 3.01 and a beta of 1.44. 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 fifty-two week low of $159.36 and a fifty-two week high of $281.50. The company's 50 day moving average is $256.84 and its two-hundred day moving average is $223.15.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during 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%. GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a 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.