First Interstate Bank Acquires Shares of 815 GE Aerospace $GE

First Interstate Bank acquired a new stake in shares of GE Aerospace (NYSE:GE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 815 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also added to or reduced their stakes in GE. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the first quarter valued at $28,000. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the first quarter valued at $29,000. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the first quarter valued at $30,000. First Pacific Financial raised its stake in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the first quarter valued at $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.3%

Shares of NYSE:GE opened at $300.60 on Monday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The stock’s fifty day moving average price is $286.07 and its 200-day moving average price is $251.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market cap of $318.77 billion, a P/E ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. GE Aerospace’s 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 year.

GE Aerospace Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Jefferies Financial Group upped their price target on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Sanford C. Bernstein upped their price target on GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $276.31.

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.