Marco Investment Management LLC Invests $235,000 in GE Aerospace (NYSE:GE)

Key Points

• Marco Investment Management LLC acquired 1,176 shares of GE Aerospace, valued at approximately $235,000, contributing to increased institutional ownership in the company.
• GE Aerospace's quarterly earnings report showed EPS of $1.66, surpassing estimates, with revenue reaching $10.15 billion, a 21.2% increase year-over-year.
• Wall Street analysts have mixed ratings on GE Aerospace, with an average rating of "Moderate Buy" and price targets ranging from $232.92 to $321.00.

Marco Investment Management LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,176 shares of the company's stock, valued at approximately $235,000.

Other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC grew its stake in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter worth about $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the first quarter worth about $28,000. Finally, Copia Wealth Management grew 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 worth $29,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on GE. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reiterated 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 lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

GE Aerospace stock traded up $2.88 on Wednesday, hitting $273.19. The company's stock had a trading volume of 4,688,408 shares, compared to its average volume of 6,342,148. 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 company has a fifty day moving average price of $249.79 and a 200-day moving average price of $216.66. The firm has a market cap of $289.70 billion, a P/E ratio of 38.10, a price-to-earnings-growth ratio of 2.91 and a beta of 1.37. GE Aerospace has a one year low of $150.20 and a one year high of $273.80.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. On average, equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio is presently 20.08%.

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.