Mirae Asset Global Investments Co. Ltd. Makes New $107.25 Million Investment in GE Aerospace $GE

Mirae Asset Global Investments Co. Ltd. bought a new stake in GE Aerospace (NYSE:GE) in the third quarter, HoldingsChannel.com reports. The firm bought 343,422 shares of the company’s stock, valued at approximately $107,247,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SFE Investment Counsel increased its holdings in GE Aerospace by 5.4% during the 3rd quarter. SFE Investment Counsel now owns 12,654 shares of the company’s stock worth $3,952,000 after purchasing an additional 652 shares during the period. Stevens Capital Partners raised its position in GE Aerospace by 40.7% in the 3rd quarter. Stevens Capital Partners now owns 757 shares of the company’s stock valued at $237,000 after purchasing an additional 219 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of GE Aerospace by 0.7% in the 3rd quarter. ProShare Advisors LLC now owns 162,166 shares of the company’s stock valued at $50,643,000 after buying an additional 1,116 shares during the period. Vise Technologies Inc. boosted its stake in shares of GE Aerospace by 19.0% in the 3rd quarter. Vise Technologies Inc. now owns 61,077 shares of the company’s stock valued at $19,074,000 after buying an additional 9,763 shares during the period. Finally, Investment Partners LTD. boosted its stake in shares of GE Aerospace by 140.5% in the 3rd quarter. Investment Partners LTD. now owns 4,146 shares of the company’s stock valued at $1,295,000 after buying an additional 2,422 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $425.00 price objective on shares of GE Aerospace in a research report on Sunday, October 25th. Susquehanna reduced their target price on shares of GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a report on Wednesday, October 21st. Guggenheim set a $380.00 price target on shares of GE Aerospace in a research note on Wednesday, October 21st. JPMorgan Chase & Co. decreased their price target on shares of GE Aerospace from $400.00 to $375.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Finally, TD Cowen reissued a “buy” rating and issued a $380.00 price objective (up from $330.00) on shares of GE Aerospace in a research report on Monday, July 13th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace Price Performance

Shares of NYSE GE opened at $301.58 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 0.98. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84. The firm has a market capitalization of $311.64 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. The stock’s 50-day simple moving average is $317.37 and its 200-day simple moving average is $323.12.

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

GE Aerospace Announces Dividend

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

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?

About GE Aerospace

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.