Aware Super Pty Ltd as trustee of Aware Super Makes New $4.60 Million Investment in GE Aerospace $GE

Key Points

• Aware Super Pty Ltd invested approximately $4.60 million in GE Aerospace, acquiring 17,864 shares during the second quarter.
• Analyst ratings for GE Aerospace include multiple "buy" recommendations with a consensus price target of around $267.13, indicating positive market sentiment.
• GE Aerospace recently reported strong quarterly earnings with $1.66 EPS, exceeding analysts' expectations and reflecting a 21.2% increase in revenue year-over-year.

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,864 shares of the company's stock, valued at approximately $4,598,000.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC raised its stake in GE Aerospace by 7.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC lifted its holdings in GE Aerospace by 18.5% in the 1st quarter. GAMMA Investing LLC now owns 25,311 shares of the company's stock worth $5,066,000 after purchasing an additional 3,946 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in GE Aerospace by 10.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 643,659 shares of the company's stock worth $128,829,000 after purchasing an additional 62,322 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in GE Aerospace in the 1st quarter worth approximately $1,342,000. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday, October 8th. UBS Group lifted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Zacks Research cut shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Aerospace in a report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $267.13.

GE Aerospace Price Performance

GE Aerospace stock opened at $300.49 on Thursday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm's fifty day moving average is $285.00 and its 200 day moving average is $249.07. The company has a market cap of $318.65 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

GE Aerospace Company 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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