GE Aerospace (NYSE:GE) Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in GE Aerospace by 3.2%, acquiring an additional 14,515 shares to own a total of 467,032 shares, valued at approximately $93.5 million.
• GE Aerospace reported a notable quarterly earnings result with $1.66 earnings per share, exceeding analysts' expectations of $1.43, and its revenue increased by 21.2% year-over-year.
• The company declared a quarterly dividend of $0.36 per share, which represents an annualized yield of 0.5%, and has a dividend payout ratio of 20.08%.

HighTower Advisors LLC increased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,032 shares of the company's stock after acquiring an additional 14,515 shares during the period. HighTower Advisors LLC's holdings in GE Aerospace were worth $93,476,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GE. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the first quarter valued at approximately $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares during the last quarter. O Brien Wealth Partners LLC purchased a new stake in GE Aerospace during the first quarter valued at approximately $33,000. First Pacific Financial increased its holdings in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the last quarter. Finally, POM Investment Strategies LLC increased its holdings in GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after buying an additional 151 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE GE traded down $2.08 during mid-day trading on Friday, reaching $267.62. 5,004,049 shares of the stock were exchanged, compared to its average volume of 6,068,837. The business's 50 day moving average is $257.20 and its 200-day moving average is $223.67. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $281.50. The company has a market capitalization of $283.79 billion, a P/E ratio of 37.32, a P/E/G 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 (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. UBS Group upped their target price 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. 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. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

About GE Aerospace

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.