Banque Cantonale Vaudoise Invests $7.55 Million in GE Aerospace (NYSE:GE)

Banque Cantonale Vaudoise purchased a new stake in shares of GE Aerospace (NYSE:GE) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 37,699 shares of the company’s stock, valued at approximately $7,546,000.

Several other institutional investors also recently bought and sold shares of GE. GSA Capital Partners LLP grew its holdings in GE Aerospace by 37.0% in the first quarter. GSA Capital Partners LLP now owns 4,230 shares of the company’s stock valued at $847,000 after purchasing an additional 1,143 shares during the period. Federated Hermes Inc. grew its holdings in GE Aerospace by 2.8% in the first quarter. Federated Hermes Inc. now owns 725,454 shares of the company’s stock valued at $145,200,000 after purchasing an additional 19,638 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in GE Aerospace in the first quarter valued at approximately $263,000. Canopy Partners LLC grew its holdings in GE Aerospace by 3.6% in the first quarter. Canopy Partners LLC now owns 2,469 shares of the company’s stock valued at $494,000 after purchasing an additional 85 shares during the period. Finally, Meeder Advisory Services Inc. grew its holdings in GE Aerospace by 15.9% in the first quarter. Meeder Advisory Services Inc. now owns 25,104 shares of the company’s stock valued at $5,025,000 after purchasing an additional 3,451 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

NYSE:GE opened at $270.58 on Tuesday. 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 capitalization of $286.93 billion, a P/E ratio of 37.74, a P/E/G ratio of 3.11 and a beta of 1.37. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $273.44. The stock’s fifty day moving average is $249.09 and its two-hundred day moving average is $216.28.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data 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. The firm had revenue of $10.15 billion for 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 company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace’s dividend payout ratio is presently 20.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.92.

About GE Aerospace

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.