Banque Pictet & Cie SA Acquires 7,285 Shares of GE Aerospace $GE

Key Points

• Banque Pictet & Cie SA boosted its stake in GE Aerospace by 84.2% during Q2, acquiring an additional 7,285 shares, raising its total holdings to 15,940 shares valued at approximately $4.1 million.
• GE Aerospace reported earnings of $1.66 EPS for the latest quarter, exceeding forecasts, with revenue increasing by 21.2% year-over-year to $10.15 billion.
• The company announced a quarterly dividend of $0.36 per share, with an annualized yield of 0.5%, amidst strong institutional ownership at 74.77%.

Banque Pictet & Cie SA increased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 84.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,940 shares of the company's stock after acquiring an additional 7,285 shares during the quarter. Banque Pictet & Cie SA's holdings in GE Aerospace were worth $4,103,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of 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 valued at $1,647,000 after buying an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. bought a new position in GE Aerospace in the 1st quarter valued at about $203,000. Sendero Wealth Management LLC increased its holdings in GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after buying an additional 12,613 shares during the period. 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 valued at $8,065,000 after buying an additional 8,245 shares during the period. Finally, 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 valued at $2,751,000 after buying an additional 9,580 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Down 0.7%

NYSE:GE opened at $294.97 on Friday. The firm's 50 day simple moving average is $277.26 and its 200 day simple moving average is $240.46. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The company has a market cap of $312.80 billion, a PE ratio of 41.14, a P/E/G ratio of 3.20 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $1.20 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

GE has been the topic of several recent analyst reports. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Citigroup restated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $241.92.

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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