TCI Fund Management Ltd. Has $12.23 Billion Stake in GE Aerospace $GE

TCI Fund Management Ltd. cut its stake in GE Aerospace (NYSE:GE) by 0.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 47,510,431 shares of the company’s stock after selling 60,516 shares during the period. GE Aerospace comprises 24.1% of TCI Fund Management Ltd.’s portfolio, making the stock its largest position. TCI Fund Management Ltd.’s holdings in GE Aerospace were worth $12,228,710,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. grew its holdings in shares of GE Aerospace by 23.5% during the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after purchasing an additional 331 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after acquiring an additional 1,201 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in shares of GE Aerospace by 1.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 159,682 shares of the company’s stock valued at $41,101,000 after purchasing an additional 2,779 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in GE Aerospace by 7.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock worth $46,876,000 after acquiring an additional 11,873 shares during the period. Finally, Francis Financial Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter worth approximately $235,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GE shares. Susquehanna began coverage on GE Aerospace in a research note on Thursday. They issued a “positive” rating and a $350.00 price objective on the stock. Jefferies Financial Group raised their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. BNP Paribas Exane assumed coverage on GE Aerospace in a report on Tuesday, November 18th. They set an “underperform” rating for the company. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Wolfe Research raised their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $304.31.

Insider Buying and Selling at GE Aerospace

In other news, SVP Russell Stokes sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total value of $2,381,680.00. Following the completion of the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $287.33 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $300.39 and a 200-day simple moving average of $277.02. The stock has a market capitalization of $303.08 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 2.21 and a beta of 1.40. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $316.67.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The company had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s payout ratio is 19.23%.

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.