Intrust Bank NA Acquires 2,577 Shares of GE Aerospace (NYSE:GE)

Key Points

• Intrust Bank NA increased its stake in GE Aerospace by 52.2% during the first quarter, acquiring an additional 2,577 shares for a total holding worth $1,504,000.
• GE Aerospace's stock has seen a slight decline of 1.6% recently, with its current price at $271.88 and a market capitalization of $288.32 billion.
• The company reported $1.66 EPS for the last quarter, exceeding analysts' estimates, and revenue increased by 21.2% year-over-year, totaling $10.15 billion.

Intrust Bank NA lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 52.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,514 shares of the company's stock after buying an additional 2,577 shares during the quarter. Intrust Bank NA's holdings in GE Aerospace were worth $1,504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Bouchey Financial Group Ltd grew its holdings in GE Aerospace by 6.0% during the 1st quarter. Bouchey Financial Group Ltd now owns 1,760 shares of the company's stock worth $352,000 after acquiring an additional 99 shares in the last quarter. Wealthspire Advisors LLC grew its stake in GE Aerospace by 4.6% in the 1st quarter. Wealthspire Advisors LLC now owns 22,041 shares of the company's stock valued at $4,411,000 after acquiring an additional 975 shares during the period. Leisure Capital Management purchased a new position in GE Aerospace in the 1st quarter valued at $222,000. iA Global Asset Management Inc. raised its holdings in shares of GE Aerospace by 51.7% during the 1st quarter. iA Global Asset Management Inc. now owns 266,741 shares of the company's stock worth $53,388,000 after acquiring an additional 90,944 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in GE Aerospace in the first quarter valued at about $146,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Down 1.6%

NYSE GE opened at $271.88 on Wednesday. The stock has a market capitalization of $288.32 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.97 and a beta of 1.44. 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 stock has a fifty day moving average of $253.60 and a 200-day moving average of $219.92.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm's revenue was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued 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 currently 20.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GE. Barclays boosted 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. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup restated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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.

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