Livforsakringsbolaget Skandia Omsesidigt Purchases 5,800 Shares of GE Aerospace $GE

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in GE Aerospace by 21.6%, owning 32,632 shares valued at approximately $8.39 million at the end of the quarter.
• GE Aerospace reported a revenue increase of 21.2% year-over-year, reaching $10.15 billion for the quarter, significantly exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.36 per share, with a dividend yield of 0.5%, to be paid on October 27th to investors of record.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 21.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,632 shares of the company's stock after purchasing an additional 5,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in GE Aerospace were worth $8,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after acquiring an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the last quarter. Invesco Ltd. lifted its stake in GE Aerospace by 0.6% in the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after acquiring an additional 54,765 shares during the last quarter. GQG Partners LLC acquired a new stake in GE Aerospace in the first quarter valued at approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in GE Aerospace by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock valued at $1,536,387,000 after acquiring an additional 491,207 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of GE traded up $4.53 during trading hours on Friday, hitting $301.62. The stock had a trading volume of 9,629,752 shares, compared to its average volume of 3,951,953. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $303.03. The company's fifty day moving average is $273.62 and its two-hundred day moving average is $237.10. 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 has a market capitalization of $319.85 billion, a price-to-earnings ratio of 42.07, a P/E/G ratio of 3.24 and a beta of 1.48.

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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company's revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Barclays boosted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Finally, Citigroup restated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.