GE Aerospace (NYSE:GE) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has increased its position in GE Aerospace by 69.9% during the first quarter, owning 718,771 shares valued at approximately $143.84 million.
• GE Aerospace reported earnings per share (EPS) of $1.66, surpassing analysts' expectations of $1.43, with quarterly revenue reaching $10.15 billion.
• The firm recently announced a quarterly dividend of $0.36 per share, reflecting a 0.5% dividend yield and a payout ratio of 20.08%.

Russell Investments Group Ltd. grew its stake in GE Aerospace (NYSE:GE - Free Report) by 69.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 718,771 shares of the company's stock after purchasing an additional 295,810 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of GE Aerospace worth $143,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of GE Aerospace in the first quarter worth about $602,000. Resona Asset Management Co. Ltd. lifted its stake in shares of GE Aerospace by 7.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 349,797 shares of the company's stock worth $69,997,000 after buying an additional 24,912 shares in the last quarter. Callan Family Office LLC lifted its stake in shares of GE Aerospace by 18.6% in the first quarter. Callan Family Office LLC now owns 20,241 shares of the company's stock worth $4,051,000 after buying an additional 3,178 shares in the last quarter. Stone House Investment Management LLC purchased a new position in GE Aerospace during the first quarter worth about $122,000. Finally, HighTower Advisors LLC raised its stake in GE Aerospace by 3.2% during the first quarter. HighTower Advisors LLC now owns 467,032 shares of the company's stock worth $93,476,000 after purchasing an additional 14,515 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Down 0.5%

Shares of GE stock traded down $1.41 during trading on Friday, reaching $268.30. The company's stock had a trading volume of 2,644,289 shares, compared to its average volume of 6,061,103. 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 company has a market capitalization of $284.51 billion, a price-to-earnings ratio of 37.43, a P/E/G ratio of 2.89 and a beta of 1.44. The stock's 50-day moving average price is $257.20 and its 200 day moving average price is $223.67. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on GE shares. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. UBS Group lifted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $232.92.

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.