GE Aerospace $GE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its GE Aerospace stake by 3.3%, selling 73,794 shares and retaining 2.16 million shares worth approximately $675.1 million. Institutional investors collectively own 74.77% of the company.
• GE Aerospace shares opened at $301.58, down 3.7%, and remain below their 50-day and 200-day moving averages. Despite the decline, the company reported quarterly revenue of $13.29 billion and EPS of $2.25, beating analyst expectations while revenue grew 24.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $373.45, while GE recently paid a quarterly dividend of $0.47 per share, representing a 0.6% yield.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,161,861 shares of the company's stock after selling 73,794 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of GE Aerospace worth $675,128,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its position in GE Aerospace by 2.6% during the second quarter. State Street Corp now owns 46,497,628 shares of the company's stock valued at $17,377,559,000 after purchasing an additional 1,160,584 shares during the last quarter. Jennison Associates LLC increased its holdings in GE Aerospace by 37.7% in the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company's stock worth $3,128,850,000 after buying an additional 3,017,937 shares during the last quarter. Bank of America Corp DE raised its position in GE Aerospace by 10.0% during the first quarter. Bank of America Corp DE now owns 7,664,679 shares of the company's stock valued at $2,175,006,000 after acquiring an additional 695,731 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GE Aerospace by 6.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company's stock valued at $2,710,142,000 after acquiring an additional 427,820 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in GE Aerospace by 97.3% in the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company's stock worth $2,540,592,000 after acquiring an additional 3,352,432 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Key Stories Impacting GE Aerospace

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE approved NYCO’s French turbine oil for Boeing 787 GEnx-1B engines following Air France trials. The approval could support engine reliability and broaden GE’s aftermarket and maintenance opportunities. GE approves French turbine oil for Boeing 787 after Air France trials
• Positive Sentiment: A next-generation aircraft test flight over GE Aerospace’s Niskayuna, New York, research center highlights the company’s involvement in future aircraft and propulsion technologies. While not an immediate earnings catalyst, the activity reinforces GE’s long-term innovation pipeline. Future generation of planes test flight
• Positive Sentiment: GE’s engine and services businesses continue to benefit from commercial aviation demand, with analysts still recognizing the strength of its aftermarket franchise despite more cautious expectations. Is GE Aerospace Stock Worth More Than Its Competitors?

GE Aerospace Trading Down 3.7%

GE Aerospace stock opened at $301.58 on Friday. The business has a 50 day moving average price of $317.37 and a two-hundred day moving average price of $323.12. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96. The stock has a market cap of $311.64 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. GE Aerospace has a 12 month low of $268.91 and a 12 month high of $388.84.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The company had revenue of $13.29 billion during the quarter, compared to analysts' expectations of $12.88 billion. During the same quarter in the prior year, the company posted $1.66 EPS. The business's revenue was up 24.7% on a year-over-year basis. As a group, equities analysts forecast that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace's dividend payout ratio is currently 21.68%.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Sanford C. Bernstein set a $376.00 target price on shares of GE Aerospace in a research report on Friday, October 23rd. UBS Group reiterated a "buy" rating and issued a $380.00 target price (up from $377.00) on shares of GE Aerospace in a report on Wednesday, October 21st. HC Wainwright set a $375.00 price target on GE Aerospace in a report on Wednesday, October 21st. Melius Research set a $350.00 price objective on shares of GE Aerospace and gave the stock a "hold" rating in a research note on Monday, September 14th. Finally, Vertical Research reaffirmed a "buy" rating and set a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $373.45.

About GE Aerospace

GE Aerospace NYSE: GE is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.

GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.