National Pension Service Increases Stock Holdings 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 increased its stake in GE Aerospace (NYSE:GE - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,419,667 shares of the company's stock after purchasing an additional 165,030 shares during the period. National Pension Service owned 0.23% of GE Aerospace worth $484,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GE. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management boosted its holdings in GE Aerospace by 14,200.0% during the first 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. O Brien Wealth Partners LLC purchased a new stake in GE Aerospace during the first quarter worth $33,000. First Pacific Financial boosted its holdings in GE Aerospace by 46.0% during the first 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. Finally, POM Investment Strategies LLC boosted its holdings in GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock worth $33,000 after buying an additional 151 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of NYSE GE traded down $2.08 during mid-day trading on Friday, reaching $267.62. The company's stock had a trading volume of 5,202,309 shares, compared to its average volume of 4,687,750. The stock has a 50-day moving average of $257.44 and a two-hundred day moving average of $224.17. The stock has a market capitalization of $283.79 billion, a P/E ratio of 37.32, a P/E/G ratio of 2.90 and a beta of 1.44. 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 has a 1-year low of $159.36 and a 1-year high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed 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 dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.92.

About GE Aerospace

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.