GE Aerospace $GE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in GE Aerospace (NYSE:GE) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,161,861 shares of the company’s stock after selling 73,794 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GE Aerospace were worth $675,128,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in GE Aerospace by 2.6% during the 2nd quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after acquiring an additional 1,160,584 shares during the last quarter. Jennison Associates LLC increased its holdings in GE Aerospace by 37.7% during the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock valued at $3,128,850,000 after purchasing an additional 3,017,937 shares in the last quarter. Bank of America Corp DE increased its holdings in GE Aerospace by 10.0% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in GE Aerospace by 6.3% in the 2nd 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 purchasing an additional 427,820 shares during the last quarter. Finally, Wellington Management Group LLP raised its position 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 valued at $2,540,592,000 after purchasing an additional 3,352,432 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Trending Headlines about GE Aerospace

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?

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GE shares. Melius Research set a $350.00 price objective on GE Aerospace and gave the stock a “hold” rating in a research note on Monday, September 14th. Sanford C. Bernstein set a $376.00 target price on GE Aerospace in a research note on Friday, October 23rd. Morgan Stanley restated an “overweight” rating and issued a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. UBS Group reaffirmed a “buy” rating and issued a $380.00 price target (up from $377.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Thursday, October 15th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.

GE Aerospace Price Performance

Shares of GE stock opened at $301.58 on Friday. GE Aerospace has a 1 year low of $268.91 and a 1 year high of $388.84. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average is $317.37 and its 200-day moving average is $323.12. The firm has a market capitalization of $311.64 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.05 and a beta of 1.38.

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

GE Aerospace Dividend Announcement

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

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.