Public Employees Retirement System of Ohio Cuts Stock Position in GE Aerospace $GE

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in GE Aerospace by 3.5%, now holding 436,005 shares valued at $112.2 million.
• GE Aerospace reported earnings of $1.66 per share, exceeding analysts' expectations of $1.43, with quarterly revenue reaching $10.15 billion.
• Analysts maintain a consensus rating of Moderate Buy for GE shares, with target prices raised by institutions including UBS and Barclays.

Public Employees Retirement System of Ohio lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 436,005 shares of the company's stock after selling 15,857 shares during the period. Public Employees Retirement System of Ohio's holdings in GE Aerospace were worth $112,223,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after purchasing an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in GE Aerospace by 6.3% in the first 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 buying an additional 1,492,486 shares during the last quarter. Invesco Ltd. lifted its holdings 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 purchased a new stake in shares of GE Aerospace in the first quarter valued at approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 valued at $1,536,387,000 after acquiring an additional 491,207 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of NYSE GE opened at $305.50 on Wednesday. The business has a 50 day moving average price of $275.21 and a two-hundred day moving average price of $238.60. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $305.78. The firm has a market cap of $323.97 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

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, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GE shares. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Barclays increased their price objective 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. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, Jefferies Financial Group raised their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

GE Aerospace 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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