SouthState Corp Has $375,000 Stock Position in GE Aerospace (NYSE:GE)

SouthState Corp lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 119.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,875 shares of the company's stock after purchasing an additional 1,020 shares during the quarter. SouthState Corp's holdings in GE Aerospace were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the 1st quarter worth approximately $28,000. Copia Wealth Management increased its position in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the period. O Brien Wealth Partners LLC bought a new position in GE Aerospace in the 1st quarter worth approximately $33,000. First Pacific Financial increased its position in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares during the period. Finally, POM Investment Strategies LLC increased its position in GE Aerospace by 1,078.6% in the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE stock opened at $275.25 on Tuesday. The stock's fifty day moving average is $255.87 and its 200-day moving average is $222.43. 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 stock has a market capitalization of $291.89 billion, a PE ratio of 38.39, a PEG ratio of 2.96 and a beta of 1.44. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $277.18.

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

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on GE. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded 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 assigned a buy rating to the company's stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace 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.

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