Panagora Asset Management Inc. Has $61.83 Million Holdings in GE Aerospace $GE

Key Points

• Panagora Asset Management Inc. increased its stake in GE Aerospace by 169.3% in the first quarter, owning 308,934 shares valued at $61.83 million as of the latest SEC filing.
• GE Aerospace reported a quarterly earnings per share of $1.66, surpassing estimates, with revenue of $10.15 billion, marking a 21.2% increase from the previous year.
• Institutional investors currently hold approximately 74.77% of GE Aerospace's stock, with several firms like Barclays and Citigroup raising their price targets and maintaining a positive outlook on the company's shares.

Panagora Asset Management Inc. lifted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 169.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 308,934 shares of the company's stock after acquiring an additional 194,234 shares during the quarter. Panagora Asset Management Inc.'s holdings in GE Aerospace were worth $61,833,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of GE Aerospace by 0.8% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in GE Aerospace by 6.3% during the 1st 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 purchasing an additional 1,492,486 shares during the period. Invesco Ltd. boosted its stake in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the period. GQG Partners LLC bought a new stake in GE Aerospace during the 1st quarter valued at approximately $1,606,840,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 purchasing an additional 628,458 shares during the period. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE Aerospace stock traded down $0.89 during trading hours on Friday, hitting $275.11. The stock had a trading volume of 5,037,097 shares, compared to its average volume of 4,084,679. The company has a 50-day moving average of $263.56 and a two-hundred day moving average of $228.98. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $291.74 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 2.96 and a beta of 1.48. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results 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 return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The company's revenue for the quarter 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, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Royal Bank Of Canada increased their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wall Street Zen downgraded GE Aerospace from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group upped their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company upped their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.