Raymond James Financial Inc. Acquires 766,374 Shares of GE Aerospace $GE

Key Points

• Raymond James Financial Inc. increased its position in GE Aerospace by 65.8%, now holding approximately 1,930,763 shares valued at $386.44 million.
• GE Aerospace reported quarterly earnings of $1.66 EPS, exceeding analysts’ expectations of $1.43 EPS, with revenue of $10.15 billion up 21.2% from the prior year.
• The company announced a quarterly dividend of $0.36 per share, representing a 0.5% yield, with a current dividend payout ratio of 20.08%.

Raymond James Financial Inc. raised its stake in GE Aerospace (NYSE:GE - Free Report) by 65.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,930,763 shares of the company's stock after purchasing an additional 766,374 shares during the quarter. Raymond James Financial Inc. owned 0.18% of GE Aerospace worth $386,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sfmg LLC boosted its holdings in shares of GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after purchasing an additional 48 shares during the period. SGL Investment Advisors Inc. boosted its holdings in shares of GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock worth $303,000 after purchasing an additional 49 shares during the period. Hudock Inc. boosted its holdings in shares of GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after purchasing an additional 50 shares during the period. First Pacific Financial boosted its holdings in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the period. Finally, First Heartland Consultants Inc. boosted its holdings in shares of GE Aerospace by 1.2% in the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after purchasing an additional 54 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Up 0.5%

GE Aerospace stock traded up $1.2050 during midday trading on Wednesday, reaching $267.1350. The stock had a trading volume of 2,353,919 shares, compared to its average volume of 6,014,687. The stock has a market capitalization of $283.28 billion, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 2.89 and a beta of 1.44. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50. The firm's fifty day simple moving average is $258.26 and its 200-day simple moving average is $225.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last posted 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. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's payout ratio is presently 20.08%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.