Scotia Capital Inc. Grows Holdings in GE Aerospace (NYSE:GE)

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. lifted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,795 shares of the company's stock after purchasing an additional 6,001 shares during the period. Scotia Capital Inc.'s holdings in GE Aerospace were worth $9,966,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Putney Financial Group LLC purchased a new position in shares of GE Aerospace during the 4th quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management boosted its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the last quarter. Finally, First Pacific Financial raised its position in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE stock traded up $6.75 during midday trading on Monday, hitting $276.13. 3,741,874 shares of the stock traded hands, compared to its average volume of 6,558,105. The firm has a market cap of $292.82 billion, a P/E ratio of 38.51, a PEG ratio of 2.90 and a beta of 1.44. 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 stock's fifty day simple moving average is $252.99 and its 200-day simple moving average is $219.56. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $276.85.

GE Aerospace (NYSE:GE - Get Free Report) last announced its 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 net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $1.20 earnings per share. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on GE. UBS Group lifted their price target 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. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company 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.