Perpetual Ltd Boosts Position in GE Aerospace $GE

Key Points

• Perpetual Ltd significantly increased its holdings in GE Aerospace by 1,327.5% during Q2, owning 201,215 shares valued at approximately $51.79 million.
• GE Aerospace recently announced a quarterly dividend of $0.36 per share, translating to a 0.5% dividend yield and a payout ratio of 20.08%.
• Analysts have a consensus rating of "Moderate Buy" for GE Aerospace, with target price increases reported from multiple firms, including Barclays raising it to $295.00.

Perpetual Ltd boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 1,327.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,215 shares of the company's stock after acquiring an additional 187,119 shares during the period. Perpetual Ltd's holdings in GE Aerospace were worth $51,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management boosted its holdings in shares of GE Aerospace by 14,200.0% in the 1st 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. bought a new stake in shares of GE Aerospace in the 1st quarter valued at about $29,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace in the 1st quarter valued at approximately $30,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

GE Aerospace stock traded down $2.31 during trading on Monday, reaching $298.83. The company had a trading volume of 2,310,495 shares, compared to its average volume of 5,812,242. The firm's 50-day simple moving average is $273.62 and its 200 day simple moving average is $237.38. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $303.03. The firm has a market capitalization of $316.90 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48. 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 released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for 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 firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Ratings Changes

Several equities analysts recently commented on GE shares. Royal Bank Of Canada increased their price objective 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. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a 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 stock a "buy" rating in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.