Vanguard Group Inc. Has $18.12 Billion Position in GE Aerospace (NYSE:GE)

Key Points

• Vanguard Group Inc. increased its ownership in GE Aerospace by 0.8% during Q1, now holding approximately 8.49% of the company’s shares, worth over $18 billion.
• GE Aerospace outperformed analyst expectations with $1.66 EPS and reported quarterly revenue of $10.15 billion, marking a 21.2% increase compared to the previous year.
• The company declared a $0.36 quarterly dividend, translating to an annual yield of 0.5%, while its dividend payout ratio stands at 20.08%.

Vanguard Group Inc. raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,507,442 shares of the company's stock after acquiring an additional 692,124 shares during the period. Vanguard Group Inc. owned approximately 8.49% of GE Aerospace worth $18,115,065,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GE. Rainey & Randall Wealth Advisors Inc. bought a new stake in GE Aerospace during the first quarter worth approximately $203,000. Sendero Wealth Management LLC boosted its stake in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Global Assets Advisory LLC increased its position in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Baird Financial Group Inc. raised its stake in shares of GE Aerospace by 6.8% in the 4th quarter. Baird Financial Group Inc. now owns 3,042,562 shares of the company's stock worth $507,469,000 after buying an additional 193,511 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Analysts Set New Price Targets

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

GE Aerospace Stock Up 0.1%

NYSE:GE traded up $0.23 during mid-day trading on Wednesday, reaching $272.35. The stock had a trading volume of 3,490,007 shares, compared to its average volume of 6,378,795. The stock has a market cap of $288.81 billion, a P/E ratio of 37.98, a PEG ratio of 2.93 and a beta of 1.44. The business's 50 day moving average is $253.60 and its 200 day moving average is $219.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $277.00.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during 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%. The company'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. As a group, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) 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.