Galvin Gaustad & Stein LLC Acquires 19,018 Shares of GE Aerospace $GE

Key Points

• Galvin Gaustad & Stein LLC increased its shares in GE Aerospace by 26.8%, holding a total of 89,940 shares worth approximately $23.15 million.
• GE Aerospace reported earnings of $1.66 per share for the most recent quarter, exceeding analysts' expectations, with a revenue of $10.15 billion, marking a 21.2% increase compared to last year.
• The company recently declared a quarterly dividend of $0.36, with a 0.5% yield and a payout ratio of 20.08%.

Galvin Gaustad & Stein LLC lifted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 26.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,940 shares of the company's stock after purchasing an additional 19,018 shares during the quarter. GE Aerospace comprises 2.0% of Galvin Gaustad & Stein LLC's investment portfolio, making the stock its 13th biggest holding. Galvin Gaustad & Stein LLC's holdings in GE Aerospace were worth $23,150,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of GE Aerospace by 0.8% during the first 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after buying an additional 1,492,486 shares during the last quarter. Invesco Ltd. raised its stake in GE Aerospace by 0.6% during the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after buying an additional 54,765 shares during the last quarter. GQG Partners LLC purchased a new position in GE Aerospace during the first quarter valued at $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in GE Aerospace by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock valued at $1,536,387,000 after buying an additional 491,207 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

NYSE:GE opened at $299.18 on Friday. The stock has a 50-day simple moving average of $282.99 and a two-hundred day simple moving average of $246.55. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The firm has a market capitalization of $317.26 billion, a PE ratio of 41.73, a P/E/G ratio of 3.25 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for 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%. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is presently 20.08%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zacks Research cut GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen cut GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $251.31.

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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