Clal Insurance Enterprises Holdings Ltd Invests $602,000 in GE Aerospace (NYSE:GE)

Key Points

• Clal Insurance Enterprises Holdings Ltd has invested approximately $602,000 in GE Aerospace by purchasing 3,000 shares during the first quarter of 2023.
• Various institutional investors have been increasing their positions in GE Aerospace, with notable increases from Copia Wealth Management and First Pacific Financial.
• The company reported a net margin of 18.64% and expected earnings of 5.4 EPS for the current fiscal year, having exceeded analysts' revenue estimates by approximately $0.66 billion in its latest earnings report.

Clal Insurance Enterprises Holdings Ltd purchased a new position in GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the company's stock, valued at approximately $602,000.

Other institutional investors have also recently made changes to their positions in the company. Putney Financial Group LLC bought a new position in GE Aerospace in the fourth quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace in the first quarter valued at $28,000. Copia Wealth Management increased its stake in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. First Pacific Financial increased its stake in GE Aerospace by 46.0% in the first 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. Finally, O Brien Wealth Partners LLC bought a new position in GE Aerospace in the first quarter valued at $33,000. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GE. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup restated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of GE opened at $275.25 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a one year low of $159.36 and a one year high of $277.18. The company has a 50-day simple moving average of $255.87 and a two-hundred day simple moving average of $222.43. The firm has a market capitalization of $291.89 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business earned $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. On average, analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.