GE Aerospace $GE Stock Position Increased by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale increased its position in GE Aerospace by 9.6% during Q2, owning a total of 508,277 shares worth approximately $130.97 million.
• GE Aerospace declared a quarterly dividend of $0.36 per share to be paid on October 27th, representing an annualized dividend of $1.44 with a yield of 0.5%.
• Analysts' ratings have fluctuated, with Royal Bank of Canada raising the target price to $340.00 while Zacks and Wall Street Zen downgraded the stock from "strong-buy" to "hold."

DekaBank Deutsche Girozentrale lifted its position in GE Aerospace (NYSE:GE - Free Report) by 9.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 508,277 shares of the company's stock after buying an additional 44,632 shares during the period. DekaBank Deutsche Girozentrale's holdings in GE Aerospace were worth $130,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Old North State Wealth Management LLC raised its stake in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock worth $542,000 after buying an additional 39 shares in the last quarter. Stephens Consulting LLC raised its stake in shares of GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after buying an additional 39 shares in the last quarter. Webster Bank N. A. raised its stake in shares of GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after buying an additional 41 shares in the last quarter. Pacific Sage Partners LLC raised its stake in shares of GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after buying an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC raised its stake in shares of GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after buying an additional 42 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $303.15 on Tuesday. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $321.48 billion, a price-to-earnings ratio of 42.28, a P/E/G ratio of 3.23 and a beta of 1.49. The stock's fifty day simple moving average is $286.62 and its 200-day simple moving average is $252.17.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Royal Bank Of Canada boosted their price objective on GE Aerospace from $300.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday. Zacks Research cut GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Wall Street Zen cut GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. The Goldman Sachs Group lifted their target price on GE Aerospace from $271.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, October 10th. Finally, Citigroup restated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $276.31.

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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