Frank Rimerman Advisors LLC Boosts Stock Position in 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 raised its holdings in GE Aerospace (NYSE:GE - Free Report) by 16.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,090 shares of the company's stock after buying an additional 2,596 shares during the quarter. Frank Rimerman Advisors LLC's holdings in GE Aerospace were worth $3,621,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sfmg LLC raised its stake in GE Aerospace by 2.4% during the first quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after buying an additional 48 shares during the last quarter. SGL Investment Advisors Inc. lifted its holdings in shares of GE Aerospace by 3.6% during the first quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after purchasing an additional 49 shares in the last quarter. Hudock Inc. lifted its holdings in shares of GE Aerospace by 1.8% during the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after purchasing an additional 50 shares in the last quarter. First Pacific Financial lifted its holdings in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Finally, First Heartland Consultants Inc. lifted its holdings in shares of GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after purchasing an additional 54 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

NYSE GE traded up $4.75 during trading on Tuesday, hitting $279.95. 1,850,571 shares of the stock traded hands, compared to its average volume of 6,072,383. The company has a market capitalization of $296.87 billion, a P/E ratio of 39.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The firm has a 50-day simple moving average of $255.87 and a 200-day simple moving average of $222.43. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $280.54.

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 (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $1.20 EPS. The company's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company upped their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, UBS Group increased their target price on 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.