3,882,465 Shares in GE Aerospace (NYSE:GE) Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired 3,882,465 shares of GE Aerospace, valued at approximately $777 million, representing about 0.36% ownership as disclosed in the latest SEC filing.
• GE Aerospace reported $1.66 earnings per share for the recent quarter, surpassing analysts' expectations of $1.43, with revenue reaching $10.15 billion.
• The company announced a quarterly dividend of $0.36 per share, resulting in an annualized dividend yield of 0.5% and a payout ratio of 20.08%.

Nuveen LLC acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,882,465 shares of the company's stock, valued at approximately $777,075,000. Nuveen LLC owned about 0.36% of GE Aerospace as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after acquiring an additional 150 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in GE Aerospace during the 4th quarter worth about $1,616,000. Seeds Investor LLC grew its holdings in GE Aerospace by 13.3% during the 4th quarter. Seeds Investor LLC now owns 1,833 shares of the company's stock worth $306,000 after acquiring an additional 215 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its position in shares of GE Aerospace by 559.6% during the fourth quarter. Advisors Capital Management LLC now owns 20,376 shares of the company's stock valued at $3,399,000 after buying an additional 17,287 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GE. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group increased their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Price Performance

Shares of GE stock traded down $11.72 during mid-day trading on Wednesday, reaching $267.92. The stock had a trading volume of 5,351,884 shares, compared to its average volume of 6,078,218. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50. The company has a market cap of $284.11 billion, a P/E ratio of 37.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The business has a 50-day simple moving average of $256.48 and a 200 day simple moving average of $222.83. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 firm's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

GE Aerospace 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.