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

Summit Global Investments lifted its position in GE Aerospace (NYSE:GE) by 94.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,645 shares of the company’s stock after acquiring an additional 2,743 shares during the quarter. Summit Global Investments’ holdings in GE Aerospace were worth $1,763,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in GE Aerospace by 2.6% during the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after purchasing an additional 1,160,584 shares during the last quarter. Jennison Associates LLC lifted its position in shares of GE Aerospace by 37.7% during the 1st quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after buying an additional 3,017,937 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 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 worth $2,175,006,000 after buying an additional 695,731 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 worth $2,710,142,000 after buying an additional 427,820 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of 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 buying an additional 3,352,432 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. Vertical Research reissued a “buy” rating and issued a $400.00 price objective on shares of GE Aerospace in a research report on Tuesday, October 20th. TD Cowen restated a “buy” rating and issued a $380.00 price objective (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $378.00 target price on shares of GE Aerospace in a research report on Wednesday, October 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $410.00 target price on shares of GE Aerospace in a research note on Monday, July 20th. Sixteen 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.45.

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?

GE Aerospace Stock Down 3.7%

GE opened at $301.58 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The stock has a market cap 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 has a twelve month low of $268.91 and a twelve month high of $388.84. The company’s 50-day moving average price is $317.37 and its two-hundred day moving average price is $323.12.

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

GE Aerospace Announces Dividend

The company 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. This represents a $1.88 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio is 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.