GE Aerospace $GE Shares Bought by Westpac Banking Corp

Westpac Banking Corp grew its holdings in GE Aerospace (NYSE:GE) by 31.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,359 shares of the company’s stock after buying an additional 7,104 shares during the quarter. Westpac Banking Corp’s holdings in GE Aerospace were worth $7,557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace in the 1st quarter valued at about $28,000. Nova Wealth Management Inc. purchased a new stake in GE Aerospace during the first quarter worth $29,000. IMG Wealth Management Inc. boosted its position in shares of GE Aerospace by 113.5% in the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after buying an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace in the 1st quarter valued at about $30,000. Finally, Financial Network Wealth Advisors LLC grew its stake in GE Aerospace by 81.9% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GE shares. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold 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 $301.27.

GE Aerospace Stock Performance

GE Aerospace stock opened at $304.50 on Friday. The company has a market cap of $321.19 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The stock’s 50-day moving average is $299.92 and its 200-day moving average is $268.40.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The company’s revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts anticipate that GE Aerospace will post 5.4 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 27th. Investors of record on Monday, September 29th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio is presently 19.23%.

About GE Aerospace

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.