GE Aerospace (NYSE:GE) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its holdings in GE Aerospace by 1,574.1% during the first quarter, acquiring over 52,000 additional shares, making it one of their top five investments.
• Multiple hedge funds reported substantial increases in their positions in GE Aerospace, with GAMMA Investing LLC raising its stake by 23,611.7% and owning over $1 billion worth of shares.
• Analysts have optimistic views on GE Aerospace, with several firms raising their target prices, resulting in a consensus rating of "Moderate Buy" and an average target price of $232.92.

XTX Topco Ltd grew its position in GE Aerospace (NYSE:GE - Free Report) by 1,574.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 56,165 shares of the company's stock after buying an additional 52,810 shares during the period. GE Aerospace accounts for approximately 0.6% of XTX Topco Ltd's investment portfolio, making the stock its 5th largest holding. XTX Topco Ltd's holdings in GE Aerospace were worth $11,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in GE Aerospace by 23,611.7% during the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. lifted its holdings in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. FMR LLC lifted its holdings in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in GE Aerospace by 32.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock worth $576,034,000 after acquiring an additional 838,954 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Price Performance

Shares of NYSE GE opened at $270.58 on Tuesday. The business's 50 day moving average price is $249.09 and its two-hundred day moving average price is $216.28. The company has a market cap of $286.93 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. 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 twelve month low of $150.20 and a twelve month high of $273.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

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.

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