Fayez Sarofim & Co Has $1.93 Million Position in GE Aerospace (NYSE:GE)

Key Points

• Fayez Sarofim & Co increased its stake in GE Aerospace by 14.3%, now holding 9,644 shares worth approximately $1.93 million.
• GE Aerospace's stock is currently trading at $274.95, with analysts predicting an EPS of 5.4 for the current fiscal year.
• The company reported a 21.2% increase in quarterly revenue year-over-year, totaling $10.15 billion, and exceeded earnings expectations with an EPS of $1.66.

Fayez Sarofim & Co increased its stake in GE Aerospace (NYSE:GE - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,644 shares of the company's stock after buying an additional 1,204 shares during the quarter. Fayez Sarofim & Co's holdings in GE Aerospace were worth $1,930,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace during the fourth quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management grew its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the period. First Pacific Financial lifted its position in shares of GE Aerospace by 46.0% during 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 last quarter. Finally, O Brien Wealth Partners LLC purchased a new position in shares of GE Aerospace during the 1st quarter valued at $33,000. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

Shares of GE Aerospace stock traded up $0.28 during trading on Monday, hitting $275.29. 1,178,183 shares of the company were exchanged, compared to its average volume of 6,085,635. The firm has a 50 day moving average price of $255.31 and a 200 day moving average price of $221.88. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $291.93 billion, a price-to-earnings ratio of 38.40, a P/E/G ratio of 2.96 and a beta of 1.44. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $277.18.

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 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%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 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.