E Fund Management Co. Ltd. Buys 1,058 Shares of GE Aerospace (NYSE:GE)

Key Points

• E Fund Management Co. Ltd. increased its stake in GE Aerospace by 6.1% during the first quarter, owning 18,381 shares valued at approximately $3.68 million.
• Several large investors have altered their stakes in GE Aerospace, with Financial Network Wealth Advisors LLC increasing its holdings by 81.9%, and others like National Pension Service raising their stake by 7.3%.
• Analysts have issued new price targets for GE Aerospace, with Citigroup raising its target price from $227.00 to $296.00 and a consensus target of $232.92, reflecting a positive outlook on the stock.

E Fund Management Co. Ltd. boosted its position in GE Aerospace (NYSE:GE - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,381 shares of the company's stock after acquiring an additional 1,058 shares during the period. E Fund Management Co. Ltd.'s holdings in GE Aerospace were worth $3,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GE. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace in the first quarter worth approximately $28,000. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace in the first quarter worth approximately $33,000. First Pacific Financial raised its stake in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Finally, POM Investment Strategies LLC raised its stake in shares of GE Aerospace by 1,078.6% in the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

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

GE Aerospace Stock Performance

NYSE GE traded up $1.00 on Thursday, hitting $269.86. 4,476,768 shares of the stock traded hands, compared to its average volume of 5,276,676. The business's fifty day moving average is $257.20 and its two-hundred day moving average is $223.67. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50. The firm has a market capitalization of $286.17 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.89 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the company earned $1.20 earnings per share. GE Aerospace's revenue was up 21.2% compared to the same quarter last year. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

About GE Aerospace

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.