Costello Asset Management INC Has $477,000 Stock Holdings in GE Aerospace (NYSE:GE)

Key Points

• Costello Asset Management INC significantly increased its position in GE Aerospace by 1,311.2%, owning 2,385 shares worth approximately $477,000 after acquiring additional shares during the first quarter.
• Major institutional investors, including GAMMA Investing LLC and Canada Pension Plan Investment Board, have also made substantial increases to their stakes in GE Aerospace, indicating strong institutional interest in the company.
• GE Aerospace reported a quarterly earnings result of $1.66 EPS, surpassing the consensus estimate by $0.23, with revenue climbing 21.2% year-over-year.

Costello Asset Management INC lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 1,311.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,385 shares of the company's stock after purchasing an additional 2,216 shares during the quarter. Costello Asset Management INC's holdings in GE Aerospace were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Sfmg LLC increased its holdings in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after buying an additional 48 shares during the period. SGL Investment Advisors Inc. increased its holdings in GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after buying an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its holdings in GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after buying an additional 50 shares during the period. Hudock Inc. increased its holdings in GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares during the period. Finally, First Pacific Financial increased its holdings in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. Royal Bank Of Canada upped 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. Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays upped their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Trading Down 1.6%

GE Aerospace stock traded down $4.35 during trading hours on Tuesday, reaching $271.88. 3,999,118 shares of the company's stock traded hands, compared to its average volume of 6,478,487. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $277.00. The firm has a market capitalization of $288.32 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.97 and a beta of 1.44. The firm's 50 day moving average is $252.99 and its 200-day moving average is $219.56.

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, beating analysts' consensus estimates of $1.43 by $0.23. The business 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% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. On average, analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors 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 dividend payout ratio is 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.