National Pension Service Grows Stock Position in GE Aerospace (NYSE:GE)

Key Points

• The National Pension Service increased its stake in GE Aerospace by 7.3% during the first quarter, acquiring a total of 2,419,667 shares valued at approximately $484 million.
• Analysts are optimistic about GE Aerospace, with Citigroup and UBS Group issuing "buy" ratings and raising their price targets to between $296 and $321.
• GE Aerospace reported substantial growth with a 21.2% increase in revenue year-over-year, reaching $10.15 billion, and estimated earnings per share of $5.4 for the current year.

National Pension Service boosted its position in GE Aerospace (NYSE:GE - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,419,667 shares of the company's stock after buying an additional 165,030 shares during the quarter. National Pension Service owned approximately 0.23% of GE Aerospace worth $484,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Sfmg LLC lifted its stake in GE Aerospace by 2.4% during the first quarter. Sfmg LLC now owns 2,088 shares of the company's stock worth $418,000 after purchasing an additional 48 shares during the last quarter. SGL Investment Advisors Inc. increased its holdings in GE Aerospace by 3.6% during the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after purchasing an additional 49 shares during the period. Hudock Inc. increased its holdings in GE Aerospace by 1.8% during the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after purchasing an additional 50 shares during the period. First Pacific Financial increased its holdings in GE Aerospace by 46.0% during the 1st 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. Finally, First Heartland Consultants Inc. grew its holdings in shares of GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock worth $789,000 after acquiring an additional 54 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GE shares. Citigroup reissued a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report 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 MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Up 1.6%

Shares of NYSE:GE opened at $279.49 on Wednesday. The stock has a market cap of $296.38 billion, a P/E ratio of 38.98, a P/E/G ratio of 2.96 and a beta of 1.44. The firm has a fifty day moving average price of $256.48 and a 200 day moving average price of $222.83. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $280.54.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating 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 firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current 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 issued 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 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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