GQG Partners LLC Makes New Investment in GE Aerospace (NYSE:GE)

GQG Partners LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,028,180 shares of the company's stock, valued at approximately $1,606,840,000. GE Aerospace accounts for about 2.6% of GQG Partners LLC's investment portfolio, making the stock its 13th largest holding. GQG Partners LLC owned approximately 0.75% of GE Aerospace at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management increased its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace during the first quarter valued at about $33,000. First Pacific Financial increased its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Finally, POM Investment Strategies LLC increased its position in shares of GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 151 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One research 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 company presently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Up 1.6%

Shares of NYSE:GE opened at $279.49 on Wednesday. The company has a market capitalization of $296.38 billion, a PE ratio of 38.98, a P/E/G ratio of 2.96 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $280.54. The firm has a 50 day simple moving average of $256.48 and a 200-day simple moving average of $222.83.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping 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 the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company's revenue was up 21.2% compared to the same quarter last year. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm 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 yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

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.

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