Comerica Bank Has $41.40 Million Stake in GE Aerospace $GE

Key Points

• Comerica Bank reduced its stake in GE Aerospace by 1.3%, now holding 206,857 shares worth approximately $41.4 million.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, exceeding analysts' expectations and generating $10.15 billion in revenue, a 21.2% increase year-over-year.
• The company declared a quarterly dividend of $0.36, translating to an annualized yield of 0.5%, with a payout ratio of 20.08%.

Comerica Bank trimmed its position in GE Aerospace (NYSE:GE - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,857 shares of the company's stock after selling 2,671 shares during the period. Comerica Bank's holdings in GE Aerospace were worth $41,402,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GE. Brighton Jones LLC raised its position in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its position in shares of GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 150 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $15,961,000. Coppell Advisory Solutions LLC raised its position in shares of GE Aerospace by 49.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 312 shares of the company's stock valued at $52,000 after acquiring an additional 103 shares during the period. Finally, Capital Analysts LLC raised its position in shares of GE Aerospace by 73.9% in the 4th quarter. Capital Analysts LLC now owns 560 shares of the company's stock valued at $93,000 after acquiring an additional 238 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GE. UBS Group increased their price target 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. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Up 0.1%

Shares of NYSE GE traded up $0.20 during midday trading on Monday, reaching $266.73. The company's stock had a trading volume of 4,300,391 shares, compared to its average volume of 4,216,812. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50. The stock has a market capitalization of $282.85 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 2.87 and a beta of 1.44. The stock has a 50 day simple moving average of $260.49 and a 200-day simple moving average of $227.11.

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 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 for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $1.20 earnings per share. The firm's revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced 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 payout ratio is presently 20.08%.

GE Aerospace 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.