2,743 GE Aerospace $GE Shares Acquired by Summit Global Investments

Summit Global Investments grew its holdings in shares of GE Aerospace (NYSE:GE) by 94.5% in the third quarter, Holdings Channel.com reports. The firm owned 5,645 shares of the company’s stock after buying an additional 2,743 shares during the period. Summit Global Investments’ holdings in GE Aerospace were worth $1,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock valued at $17,377,559,000 after purchasing an additional 1,160,584 shares during the period. Jennison Associates LLC boosted its holdings in shares of GE Aerospace by 37.7% in the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after acquiring an additional 3,017,937 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GE Aerospace by 6.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock valued at $2,710,142,000 after acquiring an additional 427,820 shares during the period. Wellington Management Group LLP lifted its stake in GE Aerospace by 97.3% in the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock worth $2,540,592,000 after purchasing an additional 3,352,432 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in GE Aerospace by 10.0% in the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock valued at $2,175,006,000 after purchasing an additional 695,731 shares during the period. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $301.58 on Friday. The company has a market capitalization of $311.64 billion, a PE ratio of 34.78, a P/E/G ratio of 2.05 and a beta of 1.38. GE Aerospace has a twelve month low of $268.91 and a twelve month high of $388.84. The firm has a fifty day simple moving average of $317.37 and a two-hundred day simple moving average of $323.12. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The business had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same period last year, the company earned $1.66 EPS. GE Aerospace’s revenue for the quarter was up 24.7% compared to the same quarter last year. Research analysts expect that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio is 21.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Thursday, October 15th. Susquehanna dropped their price objective on GE Aerospace from $430.00 to $400.00 and set a “positive” rating for the company in a research note on Wednesday, October 21st. Vertical Research restated a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $378.00 target price on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $380.00 price target (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace News Summary

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

GE Aerospace Profile

GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.