Mitsubishi UFJ Asset Management UK Ltd. Grows Stock Holdings in GE Aerospace (NYSE:GE)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in GE Aerospace by 200%, acquiring 6,000 additional shares, bringing their total to 9,000 shares, valued at approximately $1.8 million.
• GE Aerospace reported a 21.2% increase in revenue year-over-year, reaching $10.15 billion, and beat earnings estimates by reporting $1.66 per share for the quarter.
• The company announced a quarterly dividend of $0.36 per share, which amounts to an annualized dividend of $1.44, reflecting a 0.5% dividend yield.

Mitsubishi UFJ Asset Management UK Ltd. raised its position in GE Aerospace (NYSE:GE - Free Report) by 200.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the company's stock after purchasing an additional 6,000 shares during the period. GE Aerospace accounts for 1.0% of Mitsubishi UFJ Asset Management UK Ltd.'s investment portfolio, making the stock its 24th biggest position. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in GE Aerospace were worth $1,801,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. American Money Management LLC boosted its holdings in GE Aerospace by 101.2% in the 1st quarter. American Money Management LLC now owns 34,628 shares of the company's stock valued at $6,931,000 after purchasing an additional 17,419 shares during the period. Francis Financial Inc. bought a new position in GE Aerospace in the 1st quarter valued at $235,000. William B. Walkup & Associates Inc. boosted its holdings in GE Aerospace by 9.7% in the 1st quarter. William B. Walkup & Associates Inc. now owns 1,352 shares of the company's stock valued at $271,000 after purchasing an additional 120 shares during the period. GQG Partners LLC bought a new position in GE Aerospace in the 1st quarter valued at $1,606,840,000. Finally, E Fund Management Co. Ltd. boosted its holdings in GE Aerospace by 6.1% in the 1st quarter. E Fund Management Co. Ltd. now owns 18,381 shares of the company's stock valued at $3,679,000 after purchasing an additional 1,058 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GE. Wells Fargo & Company lifted 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 price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays lifted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Trading Up 0.4%

NYSE:GE traded up $1.00 during trading hours on Thursday, reaching $269.86. The company's stock had a trading volume of 4,476,768 shares, compared to its average volume of 5,276,676. The firm has a market capitalization of $286.17 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.89 and a beta of 1.44. The firm has a 50-day simple moving average of $257.20 and a 200-day simple moving average of $223.67. GE Aerospace has a 1 year low of $159.36 and a 1 year 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 issued its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. Research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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