Frank Rimerman Advisors LLC Buys 2,596 Shares of GE Aerospace (NYSE:GE)

Key Points

• Frank Rimerman Advisors LLC increased its stake in GE Aerospace by 16.8%, acquiring 2,596 additional shares, bringing its total holdings to 18,090 shares valued at approximately $3.62 million.
• GE Aerospace reported earnings of $1.66 per share for the latest quarter, surpassing analyst expectations of $1.43, with revenues reaching $10.15 billion.
• The company also announced a quarterly dividend of $0.36 per share, reflecting a 0.5% dividend yield, and a dividend payout ratio of 20.08%.

Frank Rimerman Advisors LLC lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,090 shares of the company's stock after acquiring an additional 2,596 shares during the quarter. Frank Rimerman Advisors LLC's holdings in GE Aerospace were worth $3,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GE. GAMMA Investing LLC grew its stake in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Janus Henderson Group PLC grew its stake in shares of GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares during the period. Nuveen Asset Management LLC grew its stake in shares of GE Aerospace by 32.1% in 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 during the period. Canada Pension Plan Investment Board grew its stake in shares of GE Aerospace by 11.5% in 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 during the period. Finally, Vanguard Group Inc. grew its stake in shares of GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after acquiring an additional 692,124 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

GE opened at $274.95 on Friday. The firm has a market cap of $291.57 billion, a P/E ratio of 38.35, a PEG ratio of 2.93 and a beta of 1.44. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $277.18. The company has a 50 day simple moving average of $255.31 and a two-hundred day simple moving average of $221.50. 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 posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Ratings Changes

A number of analysts have recently commented on GE shares. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup restated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. 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, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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.

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