Townsquare Capital LLC Has $8.49 Million Position in GE Aerospace (NYSE:GE)

Key Points

• Townsquare Capital LLC increased its stake in GE Aerospace by 13.1%, bringing its total shares to 42,398 valued at approximately $8.48 million.
• Analysts have recently revised their price targets for GE Aerospace, with Royal Bank of Canada raising it from $275 to $300, while Wells Fargo increased theirs from $34 to $38.
• GE Aerospace announced a quarterly dividend of $0.36, which translates to an annual yield of 0.5% based on a payout ratio of 20.08%.

Townsquare Capital LLC grew its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 13.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,398 shares of the company's stock after purchasing an additional 4,895 shares during the period. Townsquare Capital LLC's holdings in GE Aerospace were worth $8,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Sfmg LLC lifted its position in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after purchasing an additional 48 shares during the last quarter. SGL Investment Advisors Inc. lifted its position in GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after purchasing an additional 49 shares during the last quarter. Hudock Inc. lifted its position in GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after purchasing an additional 50 shares during the last quarter. First Pacific Financial increased its holdings 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 purchasing an additional 52 shares during the period. Finally, First Heartland Consultants Inc. increased its holdings in shares of GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after purchasing an additional 54 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Up 1.6%

Shares of GE traded up $4.32 during midday trading on Tuesday, hitting $279.52. The stock had a trading volume of 1,777,647 shares, compared to its average volume of 6,071,733. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $280.54. The business has a 50-day simple moving average of $255.87 and a two-hundred day simple moving average of $222.43. The firm has a market cap of $296.41 billion, a P/E ratio of 38.98, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping 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 company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the company posted $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada raised their target price 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. Finally, Wall Street Zen raised shares of GE Aerospace from a "hold" rating to 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 issued a buy rating to the stock. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Company 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.