GE Aerospace (NYSE:GE) Holdings Lifted by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC significantly increased its stake in GE Aerospace by 60.2%, holding shares worth approximately $14.20 million after acquiring an additional 26,655 shares in the 1st quarter.
• Several analysts have recently rated GE Aerospace, with upgrades leading to a shift in consensus target prices, including an increase from $275 to $300 by Royal Bank Of Canada.
• GE Aerospace reported $1.66 EPS for the most recent quarter, surpassing estimates and achieving a 21.2% year-over-year revenue growth.

Galvin Gaustad & Stein LLC raised its position in shares of GE Aerospace (NYSE:GE - Free Report) by 60.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,922 shares of the company's stock after acquiring an additional 26,655 shares during the period. Galvin Gaustad & Stein LLC's holdings in GE Aerospace were worth $14,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Brighton Jones LLC boosted its position in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after buying an additional 150 shares during the period. New Age Alpha Advisors LLC boosted its position in shares of GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of GE Aerospace by 3.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 15,490 shares of the company's stock worth $2,584,000 after buying an additional 580 shares during the period. Finally, Intrust Bank NA boosted its position in shares of GE Aerospace by 46.8% in the fourth quarter. Intrust Bank NA now owns 4,937 shares of the company's stock worth $823,000 after buying an additional 1,573 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded down $0.65 on Tuesday, reaching $269.96. 4,004,847 shares of the company were exchanged, compared to its average volume of 6,234,036. 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 company's 50-day moving average is $249.09 and its two-hundred day moving average is $216.28. The firm has a market cap of $286.28 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 3.11 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $273.80.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business's quarterly revenue was up 21.2% on a year-over-year basis. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GE shares. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Citigroup reissued a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada increased 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. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $232.92.

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.