GE Aerospace (NYSE:GE) Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in GE Aerospace by 3.2% during the 1st quarter, owning approximately 6.95 million shares valued at around $1.39 billion.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, surpassing analysts' expectations, with a revenue of $10.15 billion, which is a 21.2% increase year-over-year.
• Barclays and Citigroup analysts raised their price targets on GE Aerospace shares significantly, with Barclays setting a new target at $295.00 and Citigroup at $296.00, reflecting strong market sentiment around the stock.

Charles Schwab Investment Management Inc. lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,946,051 shares of the company's stock after acquiring an additional 213,234 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.65% of GE Aerospace worth $1,390,252,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Putney Financial Group LLC acquired a new stake in GE Aerospace during the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $28,000. Copia Wealth Management increased its position in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. First Pacific Financial increased its position in shares of 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 purchasing an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $33,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

Shares of GE stock traded up $2.93 during mid-day trading on Friday, hitting $274.95. The stock had a trading volume of 4,378,663 shares, compared to its average volume of 6,157,504. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $277.18. The firm has a market cap of $291.57 billion, a PE ratio of 38.35, a PEG ratio of 2.96 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. The company's 50-day simple moving average is $255.31 and its 200-day simple moving average is $221.73.

GE Aerospace (NYSE:GE - Get Free Report) last released 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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the business earned $1.20 EPS. The business's revenue was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Barclays increased 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. Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from 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.