RNC Capital Management LLC Purchases Shares of 1,478 GE Aerospace $GE

Key Points

• RNC Capital Management LLC has acquired 1,478 shares of GE Aerospace, valued at approximately $296,000.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding expectations, with a revenue of $10.15 billion, up 21.2% year-over-year.
• Analysts have shown positive sentiment, with several increasing their price targets, including a jump from $275 to $300 by Royal Bank of Canada.

RNC Capital Management LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,478 shares of the company's stock, valued at approximately $296,000.

A number of other large investors have also recently bought and sold shares of GE. GQG Partners LLC bought a new stake in GE Aerospace in the first quarter valued at $1,606,840,000. GAMMA Investing LLC grew its holdings in shares of GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Nuveen LLC bought a new stake in shares of GE Aerospace during the first quarter worth $777,075,000. Amundi grew its holdings in shares of GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after purchasing an additional 1,771,944 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Down 1.2%

Shares of GE opened at $275.80 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $284.41. The firm has a market capitalization of $292.47 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 3.00 and a beta of 1.48. The stock's fifty day simple moving average is $266.62 and its 200-day simple moving average is $231.90.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Analysts Set New Price Targets

Several brokerages have recently commented on GE. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada increased their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, UBS Group upped their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, GE Aerospace currently has an average 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.

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