Schubert & Co Buys New Stake in GE Aerospace (NYSE:GE)

Key Points

• Schubert & Co has made a new investment in GE Aerospace, purchasing 1,441 shares valued at approximately $288,000 this first quarter.
• Several hedge funds have also increased their stakes in GE Aerospace, with a reported 74.77% of the stock owned by institutional investors.
• Analysts have expressed bullish sentiments towards GE Aerospace, with Barclays raising its target price to $295 and several analysts issuing buy ratings for the stock.

Schubert & Co bought a new position in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,441 shares of the company's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. New Age Alpha Advisors LLC boosted its holdings in GE Aerospace by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in GE Aerospace in the fourth quarter valued at about $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace in the fourth quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the first quarter valued at about $28,000. Finally, Copia Wealth Management boosted its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded down $1.64 on Thursday, reaching $271.91. 2,221,940 shares of the company were exchanged, compared to its average volume of 6,195,970. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company's 50-day moving average is $250.58 and its two-hundred day moving average is $217.05. The firm has a market cap of $288.35 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 2.91 and a beta of 1.37. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $274.94.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly 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 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 period in the prior year, the firm earned $1.20 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal 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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.53%. GE Aerospace's dividend payout ratio is currently 20.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GE. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.