Korea Investment CORP Raises Stock Position in GE Aerospace $GE

Key Points

• Korea Investment CORP increased its stake in GE Aerospace by 2.3% during the first quarter, owning approximately 0.08% of the company, valued at $166 million after acquiring 18,421 additional shares.
• Analyst ratings for GE Aerospace have improved, with notable upgrades including a price target increase to $321.00 from UBS Group and a consensus rating of "Moderate Buy."
• GE Aerospace reported strong quarterly earnings, with $1.66 EPS exceeding estimates and revenue of $10.15 billion, reflecting a 21.2% increase year-over-year.

Korea Investment CORP lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 829,412 shares of the company's stock after purchasing an additional 18,421 shares during the quarter. Korea Investment CORP owned about 0.08% of GE Aerospace worth $166,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Qtron Investments LLC raised its position in shares of GE Aerospace by 25.8% in the 1st quarter. Qtron Investments LLC now owns 15,933 shares of the company's stock valued at $3,189,000 after purchasing an additional 3,264 shares during the last quarter. Aptus Capital Advisors LLC raised its position in shares of GE Aerospace by 333.1% in the 1st quarter. Aptus Capital Advisors LLC now owns 61,317 shares of the company's stock valued at $12,273,000 after purchasing an additional 47,159 shares during the last quarter. Granite Harbor Advisors Inc. purchased a new position in shares of GE Aerospace in the 1st quarter valued at approximately $231,000. Brooklyn Investment Group raised its position in shares of GE Aerospace by 38.8% in the 1st quarter. Brooklyn Investment Group now owns 8,894 shares of the company's stock valued at $1,780,000 after purchasing an additional 2,487 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its position in shares of GE Aerospace by 22.0% in the 1st quarter. Valley Brook Capital Group Inc. now owns 4,389 shares of the company's stock valued at $878,000 after purchasing an additional 790 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 0.7%

Shares of NYSE GE traded up $1.7910 during trading on Thursday, hitting $268.2310. 3,263,057 shares of the company were exchanged, compared to its average volume of 6,008,246. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50. 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 fifty day moving average price of $258.69 and a 200-day moving average price of $225.50. The firm has a market capitalization of $284.44 billion, a PE ratio of 37.41, a P/E/G ratio of 2.86 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company'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. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on GE. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, 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 note on Wednesday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace 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.