First Interstate Bank Buys Shares of 815 GE Aerospace $GE

First Interstate Bank bought a new stake in GE Aerospace (NYSE:GE) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 815 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. GQG Partners LLC purchased a new stake in GE Aerospace in the first quarter worth about $1,606,840,000. Nuveen LLC purchased a new stake in GE Aerospace in the first quarter worth about $777,075,000. Amundi increased its position in GE Aerospace by 124.0% in the first quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after buying an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after buying an additional 1,492,486 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in GE Aerospace by 7,406.4% in the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after buying an additional 1,196,060 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays upped their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Wolfe Research increased their target price on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.31.

GE Aerospace Stock Performance

NYSE:GE opened at $300.60 on Monday. 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 has a 12-month low of $159.36 and a 12-month high of $307.25. The stock has a 50-day moving average price of $286.07 and a 200 day moving average price of $251.22. The stock has a market capitalization of $318.77 billion, a P/E ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. Equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 29th. 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.