GE Aerospace $GE is RWQ Financial Management Services Inc.’s 2nd Largest Position

RWQ Financial Management Services Inc. raised its position in shares of GE Aerospace (NYSE:GE) by 157.1% in the second quarter, Holdings Channel reports. The firm owned 85,025 shares of the company’s stock after buying an additional 51,950 shares during the period. GE Aerospace accounts for 9.2% of RWQ Financial Management Services Inc.’s investment portfolio, making the stock its 2nd largest holding. RWQ Financial Management Services Inc.’s holdings in GE Aerospace were worth $21,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GE Aerospace Stock Performance

Shares of NYSE GE opened at $300.60 on Friday. 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 business’s 50 day moving average is $286.07 and its two-hundred day moving average is $250.42. The company has a market cap 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 has a 12 month low of $159.36 and a 12 month high of $307.25.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company 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 revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. On average, equities analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. Wolfe Research raised their price objective on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.13.

GE Aerospace 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.