AMF Tjanstepension AB Increases Stake in GE Aerospace $GE

Key Points

• AMF Tjanstepension AB has increased its stake in GE Aerospace by 14.9% during the 2nd quarter, owning 457,850 shares valued at approximately $117.8 million.
• GE Aerospace reported earnings of $1.66 per share, surpassing analyst estimates, with revenues of $10.15 billion, reflecting a 21.2% year-over-year growth.
• The company is set to pay a quarterly dividend of $0.36 per share, with a current dividend yield of 0.5% and a payout ratio of 20.08%.

AMF Tjanstepension AB increased its position in GE Aerospace (NYSE:GE - Free Report) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 457,850 shares of the company's stock after acquiring an additional 59,298 shares during the quarter. GE Aerospace comprises 0.8% of AMF Tjanstepension AB's investment portfolio, making the stock its 29th largest holding. AMF Tjanstepension AB's holdings in GE Aerospace were worth $117,846,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock worth $1,647,000 after acquiring an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in GE Aerospace in the 1st quarter worth about $203,000. Concurrent Investment Advisors LLC increased its holdings in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares during the last quarter. Global Assets Advisory LLC increased its holdings in GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after acquiring an additional 9,580 shares during the last quarter. Finally, Leisure Capital Management purchased a new stake in GE Aerospace in the 1st quarter worth about $222,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE opened at $297.40 on Friday. The company has a market cap of $315.38 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. 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 stock has a 50-day moving average price of $280.65 and a 200-day moving average price of $243.95. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research note on Saturday, September 27th. Finally, Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

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.

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