GE Aerospace (NYSE:GE) Shares Acquired by AIA Group Ltd

Key Points

• AIA Group Ltd increased its holdings in GE Aerospace by 7.4% in the first quarter, acquiring an additional 3,044 shares to own a total of 44,022 shares valued at approximately $8.81 million.
• Wells Fargo, Barclays, and UBS Group have all recently raised their price targets for GE Aerospace, with Barclays setting a new target of $295.00 and UBS at $321.00, reflecting a positive outlook from analysts.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, surpassing analysts' expectations of $1.43 and marking a 21.2% increase in revenue year-over-year.

AIA Group Ltd boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 7.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,022 shares of the company's stock after buying an additional 3,044 shares during the quarter. AIA Group Ltd's holdings in GE Aerospace were worth $8,811,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 purchasing an additional 692,124 shares during the period. Northern Trust Corp increased its holdings in shares of GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after buying an additional 553,104 shares during the last quarter. Invesco Ltd. increased 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 buying an additional 54,765 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of GE Aerospace by 11.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after buying an additional 781,574 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Aerospace by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock worth $1,198,382,000 after buying an additional 628,458 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE GE traded up $2.03 during trading hours on Thursday, reaching $270.89. The company's stock had a trading volume of 3,225,444 shares, compared to its average volume of 6,074,739. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $256.84 and a 200 day simple moving average of $223.15. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $281.50. The stock has a market cap of $287.26 billion, a PE ratio of 37.77, a PEG ratio of 3.01 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $1.20 earnings per share. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $232.92.

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.