First American Trust FSB Acquires New Position in GE Aerospace (NYSE:GE)

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 bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,538 shares of the company's stock, valued at approximately $308,000.

Several other large investors have also recently bought and sold shares of GE. GAMMA Investing LLC raised 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 worth $1,013,959,000 after buying an additional 5,044,632 shares during the period. Nuveen LLC acquired a new stake in GE Aerospace during the 1st quarter worth approximately $777,075,000. Janus Henderson Group PLC raised 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 worth $597,412,000 after buying an additional 1,673,365 shares during the period. Nuveen Asset Management LLC increased its position in shares of GE Aerospace by 32.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock worth $576,034,000 after acquiring an additional 838,954 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of GE Aerospace by 11.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after acquiring an additional 781,574 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Citigroup reissued a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays increased their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, UBS Group increased their price objective 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Performance

Shares of GE opened at $274.95 on Monday. The firm has a 50-day moving average of $255.31 and a 200-day moving average of $221.88. GE Aerospace has a one year low of $159.36 and a one year high of $277.18. The company has a market cap of $291.57 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

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

GE Aerospace Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

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.

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