GE Aerospace $GE Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its position in shares of GE Aerospace (NYSE:GE) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 96,516 shares of the company’s stock after acquiring an additional 2,865 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in GE Aerospace were worth $24,842,000 at the end of the most recent quarter.

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

GE Aerospace Stock Performance

Shares of GE stock opened at $306.47 on Wednesday. The company’s fifty day simple moving average is $287.16 and its 200-day simple moving average is $252.55. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market cap of $324.99 billion, a PE ratio of 42.74, a P/E/G ratio of 3.26 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter last year, the firm posted $1.15 EPS. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GE shares. Sanford C. Bernstein raised their target price on shares of GE Aerospace from $343.00 to $374.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Wells Fargo & Company increased their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Wolfe Research increased their price target on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $281.27.

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.