Invesco Ltd. Acquires 54,765 Shares of GE Aerospace (NYSE:GE)

Key Points

• Invesco Ltd. increased its holdings in GE Aerospace to 9,599,522 shares, worth approximately $1.92 billion, marking a 0.6% increase during the first quarter.
• Analysts have raised their price targets for GE Aerospace, with UBS Group setting a new target of $321.00, reflecting a buy rating.
• GE Aerospace reported a strong quarterly earnings performance with $1.66 earnings per share, exceeding expectations and indicating a 21.2% year-over-year revenue increase.

Invesco Ltd. raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,599,522 shares of the company's stock after purchasing an additional 54,765 shares during the period. Invesco Ltd. owned 0.90% of GE Aerospace worth $1,921,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after purchasing an additional 692,124 shares in the last quarter. Northern Trust Corp grew its stake in shares of GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock valued at $1,259,438,000 after buying an additional 781,574 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GE Aerospace by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after buying an additional 628,458 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of GE Aerospace by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,946,051 shares of the company's stock valued at $1,390,252,000 after buying an additional 213,234 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GE. Citigroup reaffirmed 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 boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group boosted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Up 1.7%

GE traded up $4.68 during trading on Tuesday, hitting $279.88. The company's stock had a trading volume of 2,219,864 shares, compared to its average volume of 6,073,823. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $280.54. 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 stock's fifty day moving average price is $255.87 and its 200-day moving average price is $222.43. The firm has a market capitalization of $296.80 billion, a P/E ratio of 39.02, a PEG ratio of 2.96 and a beta of 1.44.

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

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued 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 (DPR) 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.