NBZ Investment Advisors LLC Invests $408,000 in GE Aerospace (NYSE:GE)

Key Points

• NBZ Investment Advisors LLC has acquired a new position in GE Aerospace, purchasing 2,039 shares valued at approximately $408,000.
• GE Aerospace reported $1.66 earnings per share for the last quarter, significantly surpassing analysts' expectations of $1.43, with a revenue of $10.15 billion.
• The company announced a quarterly dividend of $0.36, providing a dividend yield of 0.5%, with a payout ratio of 20.08%.

NBZ Investment Advisors LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,039 shares of the company's stock, valued at approximately $408,000.

Several other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after buying an additional 965,012 shares in the last quarter. Northern Trust Corp lifted its holdings in GE Aerospace by 5.8% during the fourth 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. Invesco Ltd. lifted its holdings in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in GE Aerospace by 11.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after acquiring an additional 781,574 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GE Aerospace by 9.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock worth $1,198,382,000 after buying an additional 628,458 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GE shares. Citigroup reissued a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

Shares of NYSE:GE traded down $1.99 during midday trading on Thursday, hitting $270.30. The company had a trading volume of 625,583 shares, compared to its average volume of 6,113,263. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $277.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market cap of $286.63 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. The business's 50-day simple moving average is $254.17 and its 200-day simple moving average is $220.28.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.49 billion. During the same period last year, the business posted $1.20 earnings per share. The company's quarterly revenue was up 21.2% on a year-over-year basis. On average, research analysts predict that GE Aerospace will post 5.4 earnings per share 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 yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 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.