Pictet North America Advisors SA Has $8.06 Million Stake in GE Aerospace $GE

Key Points

• Pictet North America Advisors SA has reduced its stake in GE Aerospace by 12.5%, now holding shares valued at approximately $8.06 million.
• In its latest earnings report, GE Aerospace exceeded analyst expectations by posting $1.66 EPS against an estimate of $1.43 and reported a 21.2% year-over-year revenue growth.
• GE Aerospace declared a quarterly dividend of $0.36 per share, representing a 0.5% yield, to be paid on October 27th.

Pictet North America Advisors SA decreased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 12.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 31,301 shares of the company's stock after selling 4,468 shares during the period. Pictet North America Advisors SA's holdings in GE Aerospace were worth $8,057,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after buying an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Invesco Ltd. grew its stake in GE Aerospace by 0.6% in the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after acquiring an additional 54,765 shares during the period. GQG Partners LLC bought a new stake in GE Aerospace during the first quarter worth about $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Aerospace by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock worth $1,536,387,000 after buying an additional 491,207 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Down 0.1%

Shares of NYSE:GE opened at $300.91 on Tuesday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $303.03. The firm has a fifty day moving average of $274.39 and a 200 day moving average of $238.13. The firm has a market capitalization of $319.09 billion, a PE ratio of 41.97, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48. 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 announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is currently 20.08%.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent research reports. Citigroup restated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays raised their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target 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. Finally, Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $241.92.

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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