GE Aerospace $GE Shares Bought by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. significantly increased its stake in GE Aerospace by over 7,400% in the first quarter, now holding 1,212,209 shares valued at approximately $242.6 million.
• GE Aerospace reported strong quarterly earnings, with earnings per share of $1.66, beating estimates by $0.23 and a revenue of $10.15 billion, up 21.2% year-over-year.
• The company announced a quarterly dividend of $0.36 per share, representing an annualized yield of 0.5% and a dividend payout ratio of 20.08%.

1832 Asset Management L.P. boosted its position in shares of GE Aerospace (NYSE:GE - Free Report) by 7,406.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,212,209 shares of the company's stock after buying an additional 1,196,060 shares during the period. 1832 Asset Management L.P. owned 0.11% of GE Aerospace worth $242,624,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in GE Aerospace by 0.8% during the first 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 increased its position in 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 buying an additional 1,492,486 shares during the period. Northern Trust Corp increased its position in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after buying an additional 553,104 shares during the period. Invesco Ltd. increased its position in 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 buying an additional 54,765 shares during the period. Finally, GQG Partners LLC acquired a new position in GE Aerospace during the first quarter worth approximately $1,606,840,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Up 0.7%

Shares of GE stock opened at $268.2310 on Friday. The business's 50 day moving average is $259.27 and its two-hundred day moving average is $225.94. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $281.50. The company has a market capitalization of $284.44 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 2.87 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on GE. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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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