Davis R M Inc. Raises Stake in GE Aerospace (NYSE:GE)

Key Points

• Davis R M Inc. increased its stake in GE Aerospace by 59.2% during the 1st quarter, now holding a total of 97,676 shares valued at approximately $19,550,000.
• Wells Fargo & Company and Barclays both raised their price targets for GE Aerospace, with Barclays setting an "overweight" rating and a target of $295.00.
• GE Aerospace reported $1.66 earnings per share for the last quarter, exceeding the estimated $1.43 and showing a year-over-year revenue increase of 21.2%.

Davis R M Inc. lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 59.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,676 shares of the company's stock after buying an additional 36,312 shares during the quarter. Davis R M Inc.'s holdings in GE Aerospace were worth $19,550,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter worth $28,000. Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings in shares of GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the last quarter. O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace in the 1st quarter worth $33,000. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the 4th quarter worth $28,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Down 1.0%

GE traded down $2.65 during trading on Thursday, hitting $270.90. 4,519,615 shares of the stock traded hands, compared to its average volume of 6,265,567. The firm has a market capitalization of $287.27 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a 50-day moving average of $251.39 and a 200 day moving average of $217.73. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $274.94.

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

GE Aerospace Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on GE. Wells Fargo & Company increased their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reaffirmed 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, July 14th. Barclays increased their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

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.