United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $220,000 Investment in GE Aerospace (NYSE:GE)

Key Points

• United Super Pty Ltd purchased 1,100 shares of GE Aerospace, valued at approximately $220,000, marking a significant investment in the company during the 1st quarter.
• Several equities analysts have upgraded their price targets for GE Aerospace, with Barclays setting a new target of $295.00 and Citigroup raising theirs to $296.00, indicating strong confidence in the company's performance.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding expectations, with a revenue of $10.15 billion, up 21.2% year-over-year.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,100 shares of the company's stock, valued at approximately $220,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of GE Aerospace by 6.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 547,220 shares of the company's stock valued at $109,526,000 after purchasing an additional 31,862 shares in the last quarter. IFG Advisory LLC raised its position in GE Aerospace by 9.7% in the first quarter. IFG Advisory LLC now owns 3,170 shares of the company's stock worth $634,000 after acquiring an additional 281 shares in the last quarter. SPC Financial Inc. raised its position in GE Aerospace by 3.0% in the first quarter. SPC Financial Inc. now owns 3,627 shares of the company's stock worth $726,000 after acquiring an additional 106 shares in the last quarter. TIAA Trust National Association raised its position in GE Aerospace by 9.8% in the first quarter. TIAA Trust National Association now owns 122,434 shares of the company's stock worth $24,505,000 after acquiring an additional 10,897 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp raised its position in GE Aerospace by 2.7% in the first quarter. UNIVEST FINANCIAL Corp now owns 2,811 shares of the company's stock worth $563,000 after acquiring an additional 75 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GE has been the topic of several research reports. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. 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 report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to 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 note on Wednesday, July 23rd. Finally, Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

GE Aerospace stock traded up $6.75 during trading hours on Monday, reaching $276.13. 3,741,874 shares of the company were exchanged, compared to its average volume of 6,558,105. The firm has a market cap of $292.82 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.90 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. The stock has a 50-day moving average of $252.13 and a 200 day moving average of $218.91. GE Aerospace has a 12 month low of $150.20 and a 12 month 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, 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 firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

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.