Cypress Capital Group Takes Position in GE Aerospace (NYSE:GE)

Key Points

• Cypress Capital Group has invested $239,000 in GE Aerospace by acquiring 1,195 shares, according to their latest 13F filing.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, exceeding analysts' expectations, and its revenue increased by 21.2% year-over-year.
• The company also declared a quarterly dividend of $0.36 per share, resulting in an annualized yield of 0.5% and a payout ratio of 20.08%.

Cypress Capital Group purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,195 shares of the company's stock, valued at approximately $239,000.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Nuveen LLC purchased a new position in GE Aerospace during the 1st quarter valued at about $777,075,000. Janus Henderson Group PLC increased its holdings in GE Aerospace by 87.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares during the period. Nuveen Asset Management LLC increased its holdings in GE Aerospace by 32.1% during the 4th quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock valued at $576,034,000 after purchasing an additional 838,954 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in 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 valued at $1,259,438,000 after purchasing an additional 781,574 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada lifted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded down $1.57 during trading hours on Friday, reaching $268.13. The stock had a trading volume of 2,324,657 shares, compared to its average volume of 6,058,863. The stock's 50 day moving average is $257.20 and its 200 day moving average is $223.67. The firm has a market capitalization of $284.34 billion, a PE ratio of 37.40, a PEG ratio of 2.89 and a beta of 1.44. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $281.50. 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 (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping 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 the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company's revenue for the quarter was up 21.2% on a year-over-year basis. Equities analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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%.

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.