Meeder Advisory Services Inc. Raises Stake in GE Aerospace (NYSE:GE)

Key Points

• Meeder Advisory Services Inc. increased its stake in GE Aerospace by 15.9%, bringing its total holdings to 25,104 shares valued at $5.03 million as of the end of the first quarter.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding estimates by $0.23, with revenue reaching $10.15 billion, an increase of 21.2% year-over-year.
• The company announced a quarterly dividend of $0.36, reflecting a 0.53% yield, and has a payout ratio of 20.08%.

Meeder Advisory Services Inc. raised its stake in GE Aerospace (NYSE:GE - Free Report) by 15.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,104 shares of the company's stock after purchasing an additional 3,451 shares during the period. Meeder Advisory Services Inc.'s holdings in GE Aerospace were worth $5,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management lifted its holdings in shares of 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 purchasing an additional 142 shares during the period. New Age Alpha Advisors LLC lifted its holdings 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 worth $25,000 after purchasing an additional 84 shares during the period. O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace during the first quarter worth about $33,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE stock traded down $1.69 during trading hours on Friday, hitting $269.39. 2,689,903 shares of the company's stock were exchanged, compared to its average volume of 6,187,631. 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 firm has a market cap of $285.67 billion, a P/E ratio of 37.57, a P/E/G ratio of 2.94 and a beta of 1.37. The firm has a 50 day moving average of $251.39 and a two-hundred day moving average of $217.73. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $274.94.

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, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS 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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Analyst Ratings Changes

A number of equities research analysts recently commented on GE shares. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

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.