GE Aerospace (NYSE:GE) Shares Acquired by Fayez Sarofim & Co

Fayez Sarofim & Co increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,644 shares of the company's stock after purchasing 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 hedge funds and other institutional investors have also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the fourth quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace in the first quarter valued at approximately $28,000. Copia Wealth Management grew its holdings in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. First Pacific Financial grew its holdings in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace in the first quarter worth $33,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GE shares. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group boosted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Citigroup reissued 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. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

GE stock opened at $271.89 on Friday. The stock's 50 day moving average price is $254.73 and its 200 day moving average price is $220.90. The firm has a market cap of $288.33 billion, a P/E ratio of 37.92, a PEG ratio of 2.93 and a beta of 1.44. 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 1 year low of $159.36 and a 1 year high of $277.00.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping 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 return on equity of 31.32% and a net margin of 18.64%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. On average, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend 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.

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