GE Aerospace $GE is Evergreen Quality Fund GP Ltd.'s 4th Largest Position

Key Points

• Evergreen Quality Fund GP Ltd. has increased its stake in GE Aerospace by 9.6%, owning approximately 1.7 million shares worth about $341.77 million, making it the fund's 4th largest position.
• Analysts have significantly raised price targets for GE Aerospace, with Barclays setting a target of $295 and Citigroup reporting a $296 price objective after upgrading its rating to "buy."
• GE Aerospace reported strong quarterly earnings, with an EPS of $1.66 and revenue of $10.15 billion, surpassing analysts' expectations of $1.43 EPS and $9.49 billion in revenue.

Evergreen Quality Fund GP Ltd. increased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,707,570 shares of the company's stock after buying an additional 149,070 shares during the period. GE Aerospace comprises approximately 12.8% of Evergreen Quality Fund GP Ltd.'s holdings, making the stock its 4th largest holding. Evergreen Quality Fund GP Ltd. owned about 0.16% of GE Aerospace worth $341,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock worth $1,647,000 after buying an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in GE Aerospace in the 1st quarter valued at about $203,000. Sendero Wealth Management LLC lifted its stake in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after acquiring an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC raised its holdings in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,580 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GE shares. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded up $0.34 on Wednesday, reaching $275.73. The stock had a trading volume of 4,118,528 shares, compared to its average volume of 3,897,477. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50. The business's 50-day moving average price is $264.62 and its two-hundred day moving average price is $229.77. 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 stock has a market cap of $292.40 billion, a P/E ratio of 48.97, a price-to-earnings-growth ratio of 2.96 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

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.