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 boosted its holdings in GE Aerospace (NYSE:GE - Free Report) by 52.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,514 shares of the company's stock after acquiring 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 institutional investors and hedge funds have also recently modified their holdings of the business. Sfmg LLC boosted its stake in GE Aerospace by 2.4% in the first quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after buying an additional 48 shares in the last quarter. SGL Investment Advisors Inc. lifted its holdings in shares of GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock worth $303,000 after acquiring an additional 49 shares during the last quarter. Hudock Inc. boosted its stake in shares of GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after purchasing an additional 50 shares in the last quarter. First Pacific Financial boosted its stake 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 in the last quarter. Finally, First Heartland Consultants Inc. grew its holdings in shares of GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on GE shares. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Trading Up 1.1%

GE stock traded up $2.93 during trading on Friday, reaching $274.95. The company had a trading volume of 4,378,663 shares, compared to its average volume of 6,157,504. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $277.18. The business has a 50 day moving average of $255.31 and a 200 day moving average of $221.50. The company has a market cap of $291.57 billion, a P/E ratio of 38.35, a PEG ratio of 2.93 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 (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company 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 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

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.