GQG Partners LLC Acquires Shares of 8,028,180 GE Aerospace (NYSE:GE)

Key Points

• GQG Partners LLC has made a significant new investment in GE Aerospace, acquiring approximately 8 million shares valued at $1.61 billion, representing 2.6% of its investment portfolio.
• Several analysts have raised their price targets on GE Aerospace, with Citigroup setting a new target of $296.00 and Wells Fargo increasing theirs to $38.00, reflecting strong growth projections.
• GE Aerospace recently reported robust earnings, achieving an EPS of $1.66, surpassing estimates, with revenue growth of 21.2% compared to the previous year.

GQG Partners LLC acquired a new position in GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,028,180 shares of the company's stock, valued at approximately $1,606,840,000. GE Aerospace makes up 2.6% of GQG Partners LLC's holdings, making the stock its 13th biggest holding. GQG Partners LLC owned 0.75% of GE Aerospace at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. First Pacific Financial grew its position in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of NYSE:GE traded down $2.08 during trading on Friday, reaching $267.62. The company had a trading volume of 5,202,309 shares, compared to its average volume of 4,687,750. The firm's fifty day moving average is $257.44 and its 200 day moving average is $224.17. The firm has a market capitalization of $283.79 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. 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 quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace (NYSE:GE - Get Free Report) last released its 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 net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The business's quarterly revenue was up 21.2% on a year-over-year basis. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Citigroup reaffirmed a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.