Virtu Financial LLC Invests $5.03 Million 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 purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,145 shares of the company's stock, valued at approximately $5,033,000.

Other large investors have also added to or reduced their stakes in the company. Sfmg LLC increased its position in GE Aerospace by 2.4% during the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after buying an additional 48 shares during the period. SGL Investment Advisors Inc. increased its position in GE Aerospace by 3.6% during the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock worth $303,000 after buying an additional 49 shares during the period. Hudock Inc. grew its holdings in shares of GE Aerospace by 1.8% during the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock worth $582,000 after purchasing an additional 50 shares in the last quarter. First Pacific Financial grew its holdings in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, First Heartland Consultants Inc. grew its holdings in shares of GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Down 4.2%

GE Aerospace stock traded down $11.69 during trading hours on Wednesday, hitting $267.94. The stock had a trading volume of 5,351,884 shares, compared to its average volume of 6,078,218. 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 stock has a market cap of $284.14 billion, a price-to-earnings ratio of 37.35, a P/E/G ratio of 2.96 and a beta of 1.44. GE Aerospace has a one year low of $159.36 and a one year high of $281.50. The business's 50 day simple moving average is $256.48 and its 200-day simple moving average is $222.83.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders 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 is presently 20.08%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Citigroup reissued a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.