Federated Hermes Inc. Has $145.20 Million Holdings in GE Aerospace (NYSE:GE)

Key Points

• Federated Hermes Inc. increased its stake in GE Aerospace by 2.8%, owning a total of 725,454 shares, worth approximately $145.2 million after purchasing an additional 19,638 shares.
• GE Aerospace's quarterly earnings reached $1.66 per share, surpassing estimates and showing a 21.2% increase in revenue compared to the same quarter last year.
• Several analysts have upgraded their ratings for GE Aerospace, with Citigroup setting a price target of $296.00 and Barclays raising theirs to $295.00, reflecting strong investor confidence.

Federated Hermes Inc. boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 725,454 shares of the company's stock after acquiring an additional 19,638 shares during the period. Federated Hermes Inc. owned about 0.07% of GE Aerospace worth $145,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Brighton Jones LLC lifted its holdings in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of GE Aerospace by 298.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 153,178 shares of the company's stock worth $25,549,000 after purchasing an additional 114,764 shares during the last quarter. Finally, RWA Wealth Partners LLC boosted its stake in shares of GE Aerospace by 1.4% during the 4th quarter. RWA Wealth Partners LLC now owns 23,263 shares of the company's stock worth $3,880,000 after purchasing an additional 315 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

GE stock traded down $2.24 during trading on Friday, hitting $268.84. The company had a trading volume of 3,080,420 shares, compared to its average volume of 6,189,252. The firm has a market capitalization of $285.09 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.94 and a beta of 1.37. The business has a 50 day moving average of $251.39 and a 200 day moving average of $217.73. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $274.94. 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 posted its quarterly earnings data 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. The business 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%. The company's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup reaffirmed 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 lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace 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.