GE Aerospace (NYSE:GE) Shares Acquired by American Money Management LLC

Key Points

• American Money Management LLC increased its stake in GE Aerospace by 101.2% during the first quarter, owning 34,628 shares valued at approximately $6.93 million.
• Several institutional investors have made significant investments in GE Aerospace, including GQG Partners acquiring a new position worth around $1.61 billion this quarter.
• Analysts have generally upgraded their ratings on GE Aerospace, with Barclays raising its price target from $230 to $295 and maintaining an "overweight" rating.

American Money Management LLC boosted its holdings in GE Aerospace (NYSE:GE - Free Report) by 101.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,628 shares of the company's stock after purchasing an additional 17,419 shares during the quarter. GE Aerospace comprises approximately 1.3% of American Money Management LLC's portfolio, making the stock its 25th biggest position. American Money Management LLC's holdings in GE Aerospace were worth $6,931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Brighton Jones LLC lifted its stake in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after buying an additional 150 shares during the last quarter. XTX Topco Ltd lifted its stake in GE Aerospace by 163.8% in the fourth quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock valued at $560,000 after buying an additional 2,083 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in GE Aerospace in the fourth quarter valued at approximately $257,000. Finally, Bridgewater Associates LP lifted its stake in GE Aerospace by 8.4% in the fourth quarter. Bridgewater Associates LP now owns 222,843 shares of the company's stock valued at $37,168,000 after buying an additional 17,228 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GE. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Barclays upped their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

NYSE:GE traded up $1.00 during trading hours on Thursday, hitting $269.86. The company's stock had a trading volume of 4,476,768 shares, compared to its average volume of 5,276,676. The business's 50-day moving average is $257.20 and its two-hundred day moving average is $223.67. The company has a market capitalization of $286.17 billion, a PE ratio of 37.64, a PEG ratio of 2.89 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 52-week low of $159.36 and a 52-week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm 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%. GE Aerospace's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. As a group, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 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.