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US Bancorp DE Lowers Position in GE Aerospace (NYSE:GE)

GE Aerospace logo with Aerospace background

Key Points

  • US Bancorp DE reduced its holdings in GE Aerospace by 4.1%, selling 13,094 shares and bringing its total shares to 303,672, valued at approximately $60.78 million.
  • Analysts have recently upgraded GE Aerospace from a "hold" to a "buy" rating, with several brokerages raising their price targets, indicating a positive outlook for the stock.
  • The company reported earnings of $1.66 EPS for the recent quarter, surpassing analysts' expectations, with revenue up 21.2% year-over-year, totaling $10.15 billion.
  • MarketBeat previews the top five stocks to own by September 1st.

US Bancorp DE cut its stake in GE Aerospace (NYSE:GE - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 303,672 shares of the company's stock after selling 13,094 shares during the quarter. US Bancorp DE's holdings in GE Aerospace were worth $60,781,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. New Age Alpha Advisors LLC raised its stake in shares of GE Aerospace by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. Putney Financial Group LLC acquired a new position in shares of GE Aerospace during the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Finally, Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% during 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. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Wells Fargo & Company increased their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. One 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, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

Read Our Latest Analysis on GE Aerospace

GE Aerospace Trading Down 0.6%

NYSE:GE traded down $1.59 during trading hours on Friday, hitting $269.49. The company had a trading volume of 4,380,267 shares, compared to its average volume of 6,337,291. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $274.94. The company has a market cap of $285.78 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.90 and a beta of 1.44. The company has a 50-day moving average of $252.13 and a 200 day moving average of $218.37. 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 issued 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 business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $1.20 EPS. The company's revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

About GE Aerospace

(Free Report)

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.

See Also

Institutional Ownership by Quarter for GE Aerospace (NYSE:GE)

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