GE Aerospace $GE Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in GE Aerospace by 0.4%, now owning 330,413 shares valued at approximately $85 million.
• GE Aerospace reported better-than-expected earnings for the quarter, with an EPS of $1.66, exceeding analysts' expectations of $1.43.
• The company has declared a quarterly dividend of $0.36, set to be paid on October 27th, indicating a stable financial position with a dividend yield of 0.5%.

KLP Kapitalforvaltning AS increased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,413 shares of the company's stock after acquiring an additional 1,400 shares during the quarter. KLP Kapitalforvaltning AS's holdings in GE Aerospace were worth $85,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GE. Vanguard Group Inc. grew its position in 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 purchasing an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 1,492,486 shares during the last quarter. Invesco Ltd. grew its position in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock worth $1,921,344,000 after purchasing an additional 54,765 shares during the last quarter. GQG Partners LLC purchased a new position in GE Aerospace during the 1st quarter worth $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GE Aerospace by 6.8% during the 1st 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 purchasing an additional 491,207 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Up 0.4%

Shares of NYSE:GE opened at $298.16 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The firm's 50-day simple moving average is $281.20 and its 200-day simple moving average is $245.15. The company has a market cap of $316.18 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating 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 firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business's revenue for the quarter 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 research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

GE has been the topic of several research reports. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group raised their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Zacks Research downgraded shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Aerospace in a report on Saturday, September 27th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average target price 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.

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