GE Aerospace (NYSE:GE) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in GE Aerospace by 6.0%, purchasing an additional 54,700 shares for a total of 959,688 shares worth $192.08 million.
• GE Aerospace reported an earnings per share (EPS) of $1.66 for the most recent quarter, exceeding estimates and reflecting a year-over-year revenue increase of 21.2% to $10.15 billion.
• The company recently declared a quarterly dividend of $0.36 per share, with an annualized yield of 0.53% and a payout ratio of 20.08%.

TD Asset Management Inc boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 959,688 shares of the company's stock after buying an additional 54,700 shares during the period. TD Asset Management Inc owned approximately 0.09% of GE Aerospace worth $192,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. GAMMA Investing LLC increased its stake in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Janus Henderson Group PLC increased its stake in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after purchasing an additional 1,673,365 shares during the period. Invesco Ltd. increased its stake in GE Aerospace by 14.4% during 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 during the period. FMR LLC increased its stake in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in GE Aerospace by 32.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock worth $576,034,000 after purchasing an additional 838,954 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.1%

GE traded up $0.34 on Wednesday, reaching $270.65. The company's stock had a trading volume of 1,373,338 shares, compared to its average volume of 6,200,279. The stock has a 50 day moving average of $249.79 and a two-hundred day moving average of $216.66. 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 company has a market capitalization of $287.01 billion, a price-to-earnings ratio of 37.75, a P/E/G ratio of 3.04 and a beta of 1.37. GE Aerospace has a fifty-two week low of $150.20 and a fifty-two week high of $273.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 earnings per share. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GE. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Citigroup reiterated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note 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 company's stock. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average price target 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.