Simon Quick Advisors LLC Acquires 2,371 Shares of GE Aerospace $GE

Simon Quick Advisors LLC boosted its holdings in GE Aerospace (NYSE:GE) by 32.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,598 shares of the company’s stock after purchasing an additional 2,371 shares during the quarter. Simon Quick Advisors LLC’s holdings in GE Aerospace were worth $2,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after acquiring an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares in the last quarter. Invesco Ltd. raised its holdings in shares of GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after acquiring an additional 54,765 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of GE Aerospace during the 1st quarter worth approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of GE Aerospace by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock worth $1,536,387,000 after acquiring an additional 491,207 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Monday. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Bank of America upped their price objective on GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $301.27.

GE Aerospace Stock Performance

NYSE:GE opened at $310.64 on Friday. The stock’s fifty day moving average is $292.75 and its 200 day moving average is $258.88. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.67. The firm has a market capitalization of $327.67 billion, a PE ratio of 41.47, a PEG ratio of 3.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same quarter in the prior year, the firm posted $1.15 EPS. GE Aerospace’s quarterly revenue was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

GE Aerospace Profile

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.