Cullen Frost Bankers Inc. Grows Stake in GE Aerospace (NYSE:GE)

Cullen Frost Bankers Inc. raised its stake in GE Aerospace (NYSE:GE - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 93,651 shares of the company's stock after purchasing an additional 4,672 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in GE Aerospace were worth $18,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in GE Aerospace by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company's stock valued at $14,980,297,000 after purchasing an additional 410,172 shares during the last quarter. FMR LLC lifted its position in GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares during the last quarter. Geode Capital Management LLC lifted its position in GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the last quarter. Norges Bank bought a new stake in GE Aerospace in the fourth quarter valued at approximately $2,375,439,000. Finally, Northern Trust Corp lifted its position in GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 0.6%

Shares of GE Aerospace stock traded up $1.59 during midday trading on Wednesday, reaching $266.26. 11,892,420 shares of the company's stock traded hands, compared to its average volume of 5,593,374. The stock has a 50 day moving average of $241.36 and a 200-day moving average of $210.06. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market cap of $283.94 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 3.14 and a beta of 1.37. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $267.20.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.20. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.54%. GE Aerospace's dividend payout ratio (DPR) is 22.40%.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wells Fargo & Company boosted their price objective on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. UBS Group upped their target price on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Citigroup restated a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday. Finally, Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.50.

Insiders Place Their Bets

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the transaction, the senior vice president owned 8,805 shares in the company, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the transaction, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.