Stevens Capital Management LP Purchases 2,473 Shares of GE Aerospace (NYSE:GE)

Key Points

• Stevens Capital Management LP increased its stake in GE Aerospace by 59.4% during the 1st quarter, holding a total of 6,635 shares valued at approximately $1.33 million.
• Several major institutional investors, including FMR LLC and Geode Capital Management, have also significantly increased their positions, indicating strong institutional interest in the company.
• GE Aerospace recently reported earnings per share of $1.66 for the last quarter, surpassing estimates, while revenue grew by 21.2% year-over-year to reach $10.15 billion.

Stevens Capital Management LP grew its position in GE Aerospace (NYSE:GE - Free Report) by 59.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,635 shares of the company's stock after purchasing an additional 2,473 shares during the quarter. Stevens Capital Management LP's holdings in GE Aerospace were worth $1,328,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of GE Aerospace by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares in the last quarter. Hudock Inc. raised its holdings in GE Aerospace by 1.8% during the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after acquiring an additional 50 shares during the period. First Pacific Financial increased its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the period. First Heartland Consultants Inc. increased its holdings in GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after acquiring an additional 54 shares during the period. Finally, Affinity Wealth Management LLC increased its stake in GE Aerospace by 4.4% in the 1st quarter. Affinity Wealth Management LLC now owns 1,318 shares of the company's stock worth $264,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday. UBS Group boosted 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. Citigroup reaffirmed 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 raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

NYSE GE traded up $3.27 on Friday, reaching $271.28. The company had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $272.83. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm's 50 day moving average price is $248.37 and its 200 day moving average price is $215.00. The stock has a market capitalization of $287.67 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The company's revenue was up 21.2% compared to the same quarter last year. As a group, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Insider Buying and Selling at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

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.