ING Groep NV Increases Holdings in GE Aerospace (NYSE:GE)

Key Points

• ING Groep NV increased its stake in GE Aerospace by 135.8% in the first quarter, owning 230,979 shares valued at approximately $46.2 million.
• GE Aerospace reported earnings of $1.66 per share for the latest quarter, significantly exceeding analysts' expectations and showing a 21.2% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.36 per share, translating to an annualized dividend yield of 0.5%.

ING Groep NV raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 135.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,979 shares of the company's stock after acquiring an additional 133,016 shares during the period. ING Groep NV's holdings in GE Aerospace were worth $46,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace in the fourth quarter worth $28,000. Putney Financial Group LLC bought a new position in shares of GE Aerospace during the fourth quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the first quarter valued at $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares in the last quarter. Finally, First Pacific Financial increased its holdings in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company lifted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada lifted their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Trading Down 0.7%

GE Aerospace stock traded down $1.81 during trading on Thursday, reaching $270.47. 625,583 shares of the company were exchanged, compared to its average volume of 6,113,263. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $277.00. The company has a market capitalization of $286.82 billion, a P/E ratio of 37.63, a PEG ratio of 2.93 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock's 50 day simple moving average is $254.17 and its two-hundred day simple moving average is $220.28.

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, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. On average, equities research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

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.