Sumitomo Mitsui Financial Group Inc. Raises Holdings in GE Aerospace $GE

Key Points

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Sumitomo Mitsui Financial Group Inc. raised its position in shares of GE Aerospace (NYSE:GE - Free Report) by 41,221.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,181 shares of the company's stock after purchasing an additional 68,016 shares during the quarter. Sumitomo Mitsui Financial Group Inc.'s holdings in GE Aerospace were worth $13,646,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GE. Brighton Jones LLC boosted its stake in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares in the last quarter. First Trust Advisors LP boosted its position in GE Aerospace by 2.1% during the fourth quarter. First Trust Advisors LP now owns 248,327 shares of the company's stock worth $41,418,000 after purchasing an additional 5,198 shares in the last quarter. Ossiam boosted its position in GE Aerospace by 27.9% during the fourth quarter. Ossiam now owns 14,850 shares of the company's stock worth $2,477,000 after purchasing an additional 3,241 shares in the last quarter. Finally, Natixis boosted its position in GE Aerospace by 63.2% during the fourth quarter. Natixis now owns 12,052 shares of the company's stock worth $2,010,000 after purchasing an additional 4,669 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of NYSE:GE traded down $1.9420 during midday trading on Friday, hitting $266.7680. The company had a trading volume of 3,052,940 shares, compared to its average volume of 5,989,058. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $281.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market cap of $282.89 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 2.87 and a beta of 1.44. The business's 50-day simple moving average is $259.27 and its 200-day simple moving average is $225.94.

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, beating 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 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 firm earned $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, 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 declared 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 dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup reiterated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report 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. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target 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.