Russell Investments Group Ltd. Has $143.84 Million Position in GE Aerospace (NYSE:GE)

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

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Rainey & Randall Wealth Advisors Inc. bought a new stake in GE Aerospace in the first quarter valued at approximately $203,000. Sendero Wealth Management LLC boosted its holdings in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after buying an additional 8,245 shares in the last quarter. Global Assets Advisory LLC boosted its holdings in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after buying an additional 9,580 shares in the last quarter. Finally, Leisure Capital Management bought a new position in shares of GE Aerospace during the 1st quarter worth approximately $222,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Up 0.1%

GE Aerospace stock opened at $275.25 on Tuesday. The stock has a market cap of $291.89 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. 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 has a one year low of $159.36 and a one year high of $277.18. The stock has a fifty day moving average of $255.87 and a 200 day moving average of $222.43.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business 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 business's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. As a group, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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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