GE Aerospace (NYSE:GE) Shares Acquired by Vanguard Group Inc.

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

Several other hedge funds have also recently made changes to their positions in GE. Sfmg LLC lifted its stake in GE Aerospace by 2.4% in the first quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after purchasing an additional 48 shares during the last quarter. SGL Investment Advisors Inc. raised its holdings in shares of GE Aerospace by 3.6% in the first quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock worth $303,000 after buying an additional 49 shares during the period. Hudock Inc. raised its holdings in shares of 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 buying an additional 50 shares during the period. First Pacific Financial lifted its stake in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Finally, First Heartland Consultants Inc. boosted its holdings 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 acquiring an additional 54 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 1.1%

NYSE GE traded up $2.93 during midday trading on Friday, hitting $274.95. 4,378,663 shares of the company traded hands, compared to its average volume of 6,157,504. The company has a market cap of $291.57 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. 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 52 week low of $159.36 and a 52 week high of $277.18. The company's 50-day simple moving average is $255.31 and its 200-day simple moving average is $221.50.

GE Aerospace (NYSE:GE - Get Free Report) last issued 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. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 payout ratio is currently 20.08%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays boosted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $232.92.

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.