Fifth Third Wealth Advisors LLC Acquires 11,221 Shares of GE Aerospace $GE

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in GE Aerospace by 52.6%, acquiring an additional 11,221 shares in the second quarter, bringing its total to 32,549 shares valued at approximately $8.38 million.
• GE Aerospace reported a 21.2% year-over-year revenue increase of $10.15 billion for the last quarter, surpassing analyst expectations and posting earnings per share of $1.66.
• The company has declared a quarterly dividend of $0.36 per share, with a dividend yield of 0.5%, to be paid on October 27th to stockholders of record as of September 29th.

Fifth Third Wealth Advisors LLC lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 52.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,549 shares of the company's stock after acquiring an additional 11,221 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in GE Aerospace were worth $8,378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after buying an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Invesco Ltd. boosted its holdings in shares of GE Aerospace by 0.6% during the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock worth $1,921,344,000 after acquiring an additional 54,765 shares during the period. GQG Partners LLC bought a new stake in shares of GE Aerospace during the first quarter worth approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GE Aerospace by 6.8% during the first 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 period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

NYSE:GE opened at $291.96 on Friday. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The stock has a fifty day moving average price of $283.44 and a 200-day moving average price of $247.10. 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 company has a market cap of $309.61 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 3.22 and a beta of 1.49.

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. 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 during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. GE Aerospace'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. 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio is 20.08%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GE. Wall Street Zen downgraded GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Royal Bank Of Canada boosted 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. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday. Finally, Citigroup reissued a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Twelve research 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.31.

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.

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