GE Aerospace $GE Stock Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its holdings in GE Aerospace (NYSE:GE) by 10.5% during the third quarter, HoldingsChannel.com reports. The fund owned 61,588 shares of the company’s stock after buying an additional 5,866 shares during the period. Oppenheimer & Co. Inc.’s holdings in GE Aerospace were worth $19,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Amundi increased its stake in GE Aerospace by 135.2% in the first quarter. Amundi now owns 6,119,975 shares of the company’s stock valued at $1,736,665,000 after purchasing an additional 3,518,278 shares during the period. Jupiter Topco LLC purchased a new stake in shares of GE Aerospace in the second quarter valued at about $1,283,858,000. Wellington Management Group LLP boosted its stake in shares of GE Aerospace by 97.3% during the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock worth $2,540,592,000 after buying an additional 3,352,432 shares during the period. Jennison Associates LLC boosted its stake in shares of GE Aerospace by 37.7% during the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after buying an additional 3,017,937 shares during the period. Finally, State Street Corp boosted its stake in shares of GE Aerospace by 2.6% during the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after buying an additional 1,160,584 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE opened at $288.70 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. The stock has a market capitalization of $298.33 billion, a P/E ratio of 33.30, a P/E/G ratio of 1.95 and a beta of 1.38. The company’s fifty day moving average is $323.58 and its two-hundred day moving average is $323.67. GE Aerospace has a 1 year low of $268.91 and a 1 year high of $388.84.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The company had revenue of $13.29 billion during the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. GE Aerospace’s quarterly revenue was up 24.7% on a year-over-year basis. On average, sell-side analysts predict that GE Aerospace will post 8.15 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, October 5th. GE Aerospace’s payout ratio is 21.68%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GE shares. Vertical Research reissued a “buy” rating and set a $400.00 price target on shares of GE Aerospace in a report on Tuesday, October 20th. UBS Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Melius Research set a $350.00 price objective on GE Aerospace and gave the company a “hold” rating in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research report on Thursday, October 15th. Finally, BNP Paribas Exane lowered their target price on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 21st. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Profile

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.