iA Global Asset Management Inc. Buys 90,944 Shares of GE Aerospace (NYSE:GE)

Key Points

• iA Global Asset Management Inc. increased its stake in GE Aerospace by 51.7%, acquiring an additional 90,944 shares, bringing its total to 266,741 shares.
• GE Aerospace reported a quarterly earnings per share of $1.66, beating estimates by $0.23, with a revenue of $10.15 billion during the quarter.
• The company recently declared a quarterly dividend of $0.36 per share, translating to a 0.5% yield and a payout ratio of 20.08%.

iA Global Asset Management Inc. raised its position in GE Aerospace (NYSE:GE - Free Report) by 51.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 266,741 shares of the company's stock after acquiring an additional 90,944 shares during the quarter. GE Aerospace makes up about 0.9% of iA Global Asset Management Inc.'s investment portfolio, making the stock its 26th largest holding. iA Global Asset Management Inc.'s holdings in GE Aerospace were worth $53,388,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace during the 4th quarter valued at $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter valued at $28,000. Copia Wealth Management lifted its position in shares of GE Aerospace by 14,200.0% during the 1st 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. Finally, 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 valued at $33,000 after buying an additional 52 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Up 2.5%

Shares of GE Aerospace stock opened at $276.13 on Tuesday. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $276.85. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business's fifty day moving average is $252.99 and its two-hundred day moving average is $219.56. The firm has a market cap of $292.82 billion, a PE ratio of 38.51, a P/E/G ratio of 2.90 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GE shares. Royal Bank Of Canada lifted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price objective on shares of 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 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. 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. 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 analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average price target 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.

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