Price T Rowe Associates Inc. MD Increases Stock Position in GE Aerospace $GE

Key Points

• Price T Rowe Associates Inc. MD increased its stake in GE Aerospace by 6.3% to a total of approximately 25.13 million shares, valued at about $5.03 billion, making it the firm's 24th largest position.
• GE Aerospace reported quarterly earnings of $1.66 per share, exceeding analysts' expectations, with revenue of $10.15 billion, which reflects a year-over-year increase of 21.2%.
• The company announced a quarterly dividend of $0.36 per share, resulting in an annualized yield of 0.5%, with a payout ratio of 20.08%.

Price T Rowe Associates Inc. MD raised its stake in GE Aerospace (NYSE:GE - Free Report) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,131,285 shares of the company's stock after buying an additional 1,492,486 shares during the quarter. GE Aerospace comprises about 0.6% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 24th biggest holding. Price T Rowe Associates Inc. MD owned about 2.36% of GE Aerospace worth $5,030,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in GE Aerospace by 0.8% in the first 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. Northern Trust Corp lifted its position in GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after buying an additional 553,104 shares during the last quarter. Invesco Ltd. lifted its position 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 buying an additional 54,765 shares during the last quarter. GQG Partners LLC acquired a new position in GE Aerospace in the first quarter valued at about $1,606,840,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE Aerospace by 9.6% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Up 0.4%

NYSE:GE traded up $1.07 during mid-day trading on Monday, hitting $267.60. The stock had a trading volume of 1,664,541 shares, compared to its average volume of 5,975,735. The stock has a 50-day simple moving average of $259.88 and a two-hundred day simple moving average of $226.68. The company has a market capitalization of $283.77 billion, a PE ratio of 37.33, a PEG ratio of 2.87 and a beta of 1.44. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $281.50. 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 (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. 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 year.

GE Aerospace Dividend Announcement

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

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.