Virtu Financial LLC Takes $5.03 Million Position in GE Aerospace (NYSE:GE)

Key Points

• Virtu Financial LLC has invested approximately $5.03 million in GE Aerospace, acquiring 25,145 shares during the first quarter of 2023.
• Multiple institutional investors, including Entropy Technologies LP and Invesco Ltd., have also increased their holdings in GE Aerospace, demonstrating strong institutional interest in the company.
• Wall Street analysts are optimistic about GE Aerospace, with several firms increasing their price targets and assigning a consensus rating of "Moderate Buy" based on positive earnings reports and growth prospects.

Virtu Financial LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,145 shares of the company's stock, valued at approximately $5,033,000.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $3,483,000. Invesco Ltd. lifted its stake in shares of GE Aerospace by 0.6% in the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the period. True North Advisors LLC raised its position in GE Aerospace by 0.6% during the first quarter. True North Advisors LLC now owns 24,706 shares of the company's stock worth $4,945,000 after acquiring an additional 157 shares during the last quarter. JFG Wealth Management LLC acquired a new position in shares of GE Aerospace in the first quarter valued at approximately $249,000. Finally, Benjamin Edwards Inc. grew its stake in GE Aerospace by 15.2% during the first quarter. Benjamin Edwards Inc. now owns 20,865 shares of the company's stock worth $4,176,000 after buying an additional 2,754 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on GE shares. Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. 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, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Trading Up 0.1%

Shares of GE stock traded up $0.24 during mid-day trading on Monday, reaching $275.25. 3,358,594 shares of the stock traded hands, compared to its average volume of 5,987,507. The stock's fifty day simple moving average is $255.31 and its two-hundred day simple moving average is $221.88. 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 cap of $291.89 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $277.18.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. The company's revenue was up 21.2% compared to the same quarter last year. On average, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal 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 yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

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.