ING Groep NV Raises Stock 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 lifted its position in GE Aerospace (NYSE:GE - Free Report) by 135.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,979 shares of the company's stock after acquiring an additional 133,016 shares during the quarter. ING Groep NV's holdings in GE Aerospace were worth $46,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GE. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC purchased a new position in GE Aerospace in the fourth quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management lifted 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 valued at $29,000 after purchasing an additional 142 shares in the last quarter. Finally, First Pacific Financial grew its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $269.49 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $285.78 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. The firm has a 50 day moving average of $252.13 and a 200-day moving average of $218.91. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $274.94.

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

GE Aerospace Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group lifted 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. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

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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