GE Aerospace $GE Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in GE Aerospace by 5.5%, now holding approximately 1,015,236 shares worth $261.3 million.
• GE Aerospace reported $1.66 earnings per share for the latest quarter, exceeding analysts' expectations, along with a revenue of $10.15 billion.
• A quarterly dividend of $0.36 per share has been declared, with a payout ratio currently at 20.08% and a dividend yield of 0.5%.

Aberdeen Group plc increased its stake in GE Aerospace (NYSE:GE - Free Report) by 5.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,015,236 shares of the company's stock after acquiring an additional 52,640 shares during the quarter. Aberdeen Group plc owned approximately 0.10% of GE Aerospace worth $261,312,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the first quarter valued at $28,000. Copia Wealth Management grew its holdings in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace during the first quarter valued at $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the first quarter valued at $30,000. Finally, First Pacific Financial grew its holdings in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of 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 business has a 50-day moving average of $283.44 and a two-hundred day moving average of $247.10. The stock has a market capitalization of $309.61 billion, a P/E ratio of 40.72, a P/E/G ratio of 3.22 and a beta of 1.49. 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 (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business's quarterly 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, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed 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. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's payout ratio is currently 20.08%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GE. Jefferies Financial Group lifted their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Zacks Research cut GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $251.31.

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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