Chicago Partners Investment Group LLC Boosts Holdings in GE Aerospace $GE

Chicago Partners Investment Group LLC increased its holdings in GE Aerospace (NYSE:GE) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,336 shares of the company’s stock after buying an additional 1,576 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in GE Aerospace were worth $4,826,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after purchasing an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares in the last quarter. Invesco Ltd. lifted its holdings in GE Aerospace by 0.6% during 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 in the last quarter. GQG Partners LLC purchased a new position in GE Aerospace during the first quarter valued at approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GE Aerospace by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after purchasing an additional 491,207 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GE. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Friday. Barclays lifted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Sanford C. Bernstein lifted their price objective on shares of GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, TD Cowen lifted their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $276.31.

GE Aerospace Trading Up 0.3%

Shares of GE opened at $300.60 on Monday. The company’s fifty day moving average is $286.07 and its 200 day moving average is $251.22. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The stock has a market capitalization of $318.77 billion, a PE ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. GE Aerospace’s quarterly revenue 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 fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s payout ratio 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.