1,538 Shares in GE Aerospace (NYSE:GE) Purchased by First American Trust FSB

Key Points

• First American Trust FSB has acquired a new stake in GE Aerospace, purchasing 1,538 shares valued at approximately $308,000 in the first quarter.
• Analysts are bullish on GE Aerospace, with eleven buy ratings and an average target price of $232.92 according to recent reports.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding analysts' expectations and showing a 21.2% year-over-year revenue growth to $10.15 billion.

First American Trust FSB acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,538 shares of the company's stock, valued at approximately $308,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Vanguard Group Inc. increased its holdings in shares of GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after purchasing an additional 692,124 shares during the period. Northern Trust Corp increased its holdings in shares of GE Aerospace by 5.8% in the 4th 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 period. Invesco Ltd. increased its holdings in shares of GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of GE Aerospace by 11.5% in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Aerospace by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after purchasing an additional 628,458 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GE shares. Royal Bank Of Canada increased 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. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Price Performance

GE traded up $1.70 on Thursday, reaching $270.56. The stock had a trading volume of 2,945,181 shares, compared to its average volume of 6,073,061. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50. The firm has a 50-day moving average of $256.84 and a 200-day moving average of $223.15. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $286.91 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last issued 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 company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.

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.