GE Aerospace (NYSE:GE) Shares Bought by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC significantly increased its stake in GE Aerospace by 6,324.7%, acquiring 9,487 additional shares for a total holding of 9,637 shares worth approximately $1.93 million.
• Several analysts have raised their price targets for GE Aerospace, with Barclays increasing it from $230 to $295 and Royal Bank of Canada from $275 to $300, signaling a positive outlook for the company.
• GE Aerospace recently reported a quarterly earnings per share of $1.66, exceeding estimates, along with revenue of $10.15 billion, reflecting a 21.2% year-over-year growth.

Knights of Columbus Asset Advisors LLC lifted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 6,324.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,637 shares of the company's stock after acquiring an additional 9,487 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in GE Aerospace were worth $1,929,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of GE Aerospace by 17.6% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock worth $56,000 after purchasing an additional 50 shares in the last quarter. Hudock Inc. lifted its holdings in GE Aerospace by 1.8% in the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after purchasing an additional 50 shares during the period. First Pacific Financial grew its position 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 in the last quarter. First Heartland Consultants Inc. increased its stake in GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after buying an additional 54 shares during the period. Finally, Affinity Wealth Management LLC raised its position in shares of GE Aerospace by 4.4% during the 1st quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock worth $264,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GE shares. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Trading Up 1.2%

Shares of GE opened at $271.28 on Friday. The business's 50-day moving average price is $248.37 and its 200 day moving average price is $215.00. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $287.67 billion, a P/E ratio of 37.84, a P/E/G ratio of 3.06 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $272.83.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the firm posted $1.20 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently announced 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 yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president owned 8,805 shares of the company's stock, valued at $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

About GE Aerospace

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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