GE Aerospace $GE Shares Bought by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its GE Aerospace stake by 10.5% in the first quarter, buying 18,534 more shares and bringing its total to 195,261 shares worth about $55.4 million.
• Wall Street remains broadly positive on the stock, with GE Aerospace carrying a Moderate Buy consensus rating and an average price target of $357.56. Citigroup recently raised its target to $431, while several other firms maintained or slightly trimmed theirs.
• GE Aerospace reported stronger-than-expected first-quarter results, posting EPS of $1.86 versus the $1.60 estimate and revenue of $11.61 billion, up 24.6% year over year. The company also announced a quarterly dividend of $0.47 per share, payable July 27.

QRG Capital Management Inc. raised its position in GE Aerospace (NYSE:GE - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,261 shares of the company's stock after purchasing an additional 18,534 shares during the period. GE Aerospace accounts for 0.6% of QRG Capital Management Inc.'s investment portfolio, making the stock its 27th largest holding. QRG Capital Management Inc.'s holdings in GE Aerospace were worth $55,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. High Falls Advisors Inc lifted its position in shares of GE Aerospace by 3.0% during the 4th quarter. High Falls Advisors Inc now owns 1,069 shares of the company's stock worth $329,000 after purchasing an additional 31 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in GE Aerospace by 1.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 3,474 shares of the company's stock valued at $1,070,000 after buying an additional 33 shares during the last quarter. Montz Harcus Wealth Management LLC increased its holdings in GE Aerospace by 3.6% in the fourth quarter. Montz Harcus Wealth Management LLC now owns 947 shares of the company's stock valued at $292,000 after buying an additional 33 shares during the last quarter. Darwin Wealth Management LLC raised its stake in GE Aerospace by 2.0% in the fourth quarter. Darwin Wealth Management LLC now owns 1,699 shares of the company's stock valued at $523,000 after buying an additional 33 shares in the last quarter. Finally, LRI Investments LLC raised its stake in GE Aerospace by 1.4% in the fourth quarter. LRI Investments LLC now owns 2,390 shares of the company's stock valued at $736,000 after buying an additional 33 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on GE shares. Citigroup reaffirmed a "buy" rating and set a $431.00 price target (up from $353.00) on shares of GE Aerospace in a report on Wednesday. TD Cowen dropped their price objective on GE Aerospace from $350.00 to $330.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Wells Fargo & Company assumed coverage on GE Aerospace in a research report on Wednesday, April 1st. They set an "overweight" rating and a $325.00 target price on the stock. UBS Group decreased their target price on GE Aerospace from $357.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings downgraded GE Aerospace from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $357.56.

GE Aerospace Trading Down 0.1%

NYSE GE opened at $377.14 on Friday. The firm's fifty day moving average price is $322.83 and its 200 day moving average price is $315.01. GE Aerospace has a 12 month low of $243.34 and a 12 month high of $382.97. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.01 and a quick ratio of 0.70. The company has a market capitalization of $393.49 billion, a price-to-earnings ratio of 46.45, a price-to-earnings-growth ratio of 3.35 and a beta of 1.35.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.26. GE Aerospace had a net margin of 17.86% and a return on equity of 37.99%. The firm had revenue of $11.61 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the previous year, the company earned $1.49 earnings per share. GE Aerospace's quarterly revenue was up 24.6% compared to the same quarter last year. GE Aerospace has set its FY 2026 guidance at 7.100-7.400 EPS. On average, sell-side analysts expect that GE Aerospace will post 7.48 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Monday, July 6th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, July 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is 23.15%.

GE Aerospace Company Profile

GE Aerospace NYSE: GE is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.