Fifth Third Bancorp Purchases 39,518 Shares of GE Aerospace $GE

Key Points

• Fifth Third Bancorp increased its stake in GE Aerospace by 12.1%, acquiring an additional 39,518 shares during the second quarter, bringing its total holdings to 365,715 shares valued at approximately $94.1 million.
• Ge Aerospace saw positive analyst sentiment with several upgrades, including Wells Fargo raising its price target from $34 to $38, and Royal Bank Of Canada increasing its target from $275 to $300 with an "outperform" rating.
• The company reported a strong quarterly performance with $1.66 EPS, surpassing estimates, and $10.15 billion in revenue, reflecting a year-over-year growth of 21.2%.

Fifth Third Bancorp lifted its position in GE Aerospace (NYSE:GE - Free Report) by 12.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 365,715 shares of the company's stock after purchasing an additional 39,518 shares during the quarter. Fifth Third Bancorp's holdings in GE Aerospace were worth $94,131,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GE. GQG Partners LLC acquired a new position in GE Aerospace during the 1st quarter worth about $1,606,840,000. GAMMA Investing LLC lifted its position in GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after buying an additional 5,044,632 shares in the last quarter. Nuveen LLC acquired a new position in GE Aerospace during the 1st quarter worth about $777,075,000. Amundi lifted its position in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after buying an additional 1,771,944 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after buying an additional 1,492,486 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Jefferies Financial Group increased their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday. Finally, Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

GE Aerospace Price Performance

NYSE GE opened at $305.50 on Wednesday. The business has a 50 day simple moving average of $275.21 and a 200 day simple moving average of $238.60. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $305.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $323.97 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 3.24 and a beta of 1.48.

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 for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations 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 last year, the business earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts anticipate 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 issued a dividend of $0.36 per share. The ex-dividend date of this dividend 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%.

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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