GE Aerospace (NYSE:GE) Shares Purchased by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its stake in GE Aerospace by 13.7%, acquiring an additional 6,001 shares, bringing its total holdings to 49,795 shares valued at approximately $9,966,000.
• A number of analysts have raised their price targets for GE Aerospace, with Royal Bank of Canada setting a new target of $300.00 and UBS Group increasing theirs to $321.00.
• GE Aerospace recently announced a quarterly dividend of $0.36 per share, yielding 0.5%, with a payout ratio of 20.08%.

Scotia Capital Inc. boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,795 shares of the company's stock after purchasing an additional 6,001 shares during the quarter. Scotia Capital Inc.'s holdings in GE Aerospace were worth $9,966,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after purchasing an additional 553,104 shares in the last quarter. Invesco Ltd. lifted its position in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in GE Aerospace by 11.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after acquiring an additional 781,574 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of GE Aerospace by 9.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after buying an additional 628,458 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 0.1%

Shares of NYSE GE traded down $0.39 during midday trading on Thursday, hitting $271.89. The stock had a trading volume of 2,982,703 shares, compared to its average volume of 6,125,085. 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 52 week low of $159.36 and a 52 week high of $277.00. The company has a market cap of $288.33 billion, a P/E ratio of 37.92, a PEG ratio of 2.93 and a beta of 1.44. The business's 50 day moving average is $254.17 and its 200-day moving average is $220.28.

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

GE Aerospace Dividend Announcement

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

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.