343,422 Shares in GE Aerospace $GE Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in GE Aerospace (NYSE:GE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 343,422 shares of the company’s stock, valued at approximately $107,247,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GK Wealth Management LLC acquired a new position in shares of GE Aerospace during the 3rd quarter worth approximately $25,000. Paladin Partners LLC acquired a new position in GE Aerospace during the second quarter worth $38,000. Parvin Asset Management LLC purchased a new stake in GE Aerospace in the 2nd quarter valued at $41,000. Clark Wealth Partners grew its holdings in GE Aerospace by 70.1% in the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock valued at $36,000 after buying an additional 47 shares in the last quarter. Finally, Markowski Investments purchased a new stake in GE Aerospace in the 2nd quarter valued at $46,000. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $301.58 on Friday. The stock has a market capitalization of $311.64 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The business has a 50-day moving average of $317.37 and a 200 day moving average of $323.12. GE Aerospace has a 12 month low of $268.91 and a 12 month high of $388.84.

GE Aerospace (NYSE:GE) last issued 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. 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%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. As a group, sell-side analysts forecast that GE Aerospace will post 8.16 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were paid 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 presently 21.68%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GE. BNP Paribas Exane cut their target price on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research note on Wednesday, October 21st. The Goldman Sachs Group reissued a “buy” rating and set a $410.00 price target on shares of GE Aerospace in a research report on Monday, July 20th. Morgan Stanley reissued an “overweight” rating and issued a $375.00 price objective (down from $400.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Vertical Research reissued a “buy” rating and issued a $400.00 price objective on shares of GE Aerospace in a report on Tuesday, October 20th. Finally, HC Wainwright set a $375.00 price objective on shares of GE Aerospace in a research report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and a consensus target price 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?

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.