CHURCHILL MANAGEMENT Corp Buys 17,524 Shares of GE Aerospace $GE

Key Points

• CHURCHILL MANAGEMENT Corp increased its investment in GE Aerospace by 16.8% in the second quarter, bringing its total shares to 121,912, valued at approximately $31.38 million.
• GE Aerospace reported better-than-expected quarterly earnings, with earnings per share of $1.66, surpassing estimates of $1.43, and revenue of $10.15 billion against expectations of $9.49 billion.
• The company announced a quarterly dividend of $0.36 per share, yielding 0.5%, with an ex-dividend date of September 29.

CHURCHILL MANAGEMENT Corp boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,912 shares of the company's stock after purchasing an additional 17,524 shares during the period. GE Aerospace comprises about 0.3% of CHURCHILL MANAGEMENT Corp's holdings, making the stock its 27th largest holding. CHURCHILL MANAGEMENT Corp's holdings in GE Aerospace were worth $31,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in GE Aerospace by 0.8% in 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after buying an additional 1,492,486 shares during the period. Invesco Ltd. raised its holdings in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after buying an additional 54,765 shares during the last quarter. GQG Partners LLC acquired a new stake in 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 grew its holdings in 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 during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE stock opened at $301.41 on Thursday. 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 has a market cap of $319.63 billion, a PE ratio of 42.04, a P/E/G ratio of 3.24 and a beta of 1.49. The business has a 50 day moving average of $279.49 and a 200-day moving average of $242.61. 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 posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued 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 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of several analyst reports. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Citigroup restated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus 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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