Goldman Sachs Group Inc. Purchases 211,270 Shares of GE Aerospace (NYSE:GE)

Key Points

• Goldman Sachs Group Inc. increased its stake in GE Aerospace by 3.2%, now holding 6,828,702 shares valued at approximately $1.37 billion.
• GE Aerospace reported a quarterly earnings per share of $1.66, exceeding estimates by $0.23, with revenue of $10.15 billion, up 21.2% from the previous year.
• The company recently declared a quarterly dividend of $0.36, resulting in an annualized dividend yield of 0.5% with a payout ratio of 20.08%.

Goldman Sachs Group Inc. lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,828,702 shares of the company's stock after purchasing an additional 211,270 shares during the quarter. Goldman Sachs Group Inc. owned 0.64% of GE Aerospace worth $1,366,765,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the fourth quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management increased its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. First Pacific Financial lifted its position in GE Aerospace by 46.0% in the first 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 during the first quarter valued at approximately $33,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. Royal Bank Of Canada increased their price target 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. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Down 0.1%

Shares of GE Aerospace stock traded down $0.39 during trading on Thursday, hitting $271.89. The company's stock had a trading volume of 3,047,894 shares, compared to its average volume of 6,278,160. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $277.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a fifty day simple moving average of $254.73 and a two-hundred day simple moving average of $220.90. The company has a market capitalization of $288.33 billion, a PE ratio of 37.92, a P/E/G ratio of 2.93 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business earned $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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