Ontario Teachers Pension Plan Board Buys New Shares in GE Aerospace (NYSE:GE)

Ontario Teachers Pension Plan Board purchased a new position in GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 176,411 shares of the company's stock, valued at approximately $35,309,000. GE Aerospace makes up 0.5% of Ontario Teachers Pension Plan Board's holdings, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after acquiring an additional 692,124 shares during the period. Northern Trust Corp lifted its holdings in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after purchasing an additional 553,104 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in GE Aerospace by 11.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock worth $1,259,438,000 after purchasing an additional 781,574 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in GE Aerospace by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after buying an additional 628,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of GE Aerospace by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,946,051 shares of the company's stock valued at $1,390,252,000 after buying an additional 213,234 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE GE opened at $272.35 on Thursday. The firm's fifty day simple moving average is $254.17 and its two-hundred day simple moving average is $220.28. The firm has a market capitalization of $288.81 billion, a P/E ratio of 37.98, a P/E/G ratio of 2.93 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $277.00.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for 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 was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Wall Street Analyst Weigh In

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