Primecap Management Co. CA Invests $48.31 Million in GE Aerospace $GE

Primecap Management Co. CA acquired a new stake in shares of GE Aerospace (NYSE:GE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 187,700 shares of the company’s stock, valued at approximately $48,312,000.

Other institutional investors have also bought and sold shares of the company. Stonebrook Private Inc. lifted its stake in shares of GE Aerospace by 3.4% in the 2nd quarter. Stonebrook Private Inc. now owns 1,788 shares of the company’s stock worth $460,000 after acquiring an additional 59 shares during the period. Aspen Investment Management Inc raised its holdings in GE Aerospace by 7.8% during the 2nd quarter. Aspen Investment Management Inc now owns 2,419 shares of the company’s stock worth $623,000 after buying an additional 175 shares during the period. Highview Capital Management LLC DE raised its holdings in shares of GE Aerospace by 4.5% during the second quarter. Highview Capital Management LLC DE now owns 6,635 shares of the company’s stock valued at $1,708,000 after acquiring an additional 283 shares during the period. HHM Wealth Advisors LLC lifted its holdings in shares of GE Aerospace by 8.6% in the second quarter. HHM Wealth Advisors LLC now owns 3,794 shares of the company’s stock valued at $977,000 after purchasing an additional 300 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its position in shares of GE Aerospace by 104.5% in the second quarter. Wealthspire Advisors LLC now owns 45,072 shares of the company’s stock worth $11,601,000 after buying an additional 23,031 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE opened at $300.84 on Thursday. The firm has a market cap of $317.33 billion, a price-to-earnings ratio of 40.17, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. The company’s fifty day moving average is $301.15 and its 200-day moving average is $270.39. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data 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. The firm had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. GE Aerospace’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 19.23%.

Analyst Upgrades and Downgrades

GE has been the subject of several research analyst reports. Bank of America increased their price objective on GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. upped their target price on GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, BNP Paribas upgraded shares of GE Aerospace to a “strong sell” rating in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $301.27.

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.