Sciencast Management LP Invests $3.53 Million in GE Aerospace $GE

Key Points

• Sciencast Management LP has acquired a new stake in GE Aerospace worth approximately $3.53 million, purchasing 17,629 shares during the first quarter.
• GE Aerospace reported impressive quarterly results with $1.66 earnings per share, exceeding estimates by $0.23 and achieving a 21.2% year-over-year revenue growth.
• Analysts have mixed views on GE, with some upgrading their price target to $321.00, while others have lowered their ratings, indicating a consensus "Moderate Buy" outlook.

Sciencast Management LP bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,629 shares of the company's stock, valued at approximately $3,528,000.

Several other large investors have also modified their holdings of the stock. Ashton Thomas Private Wealth LLC boosted its holdings in shares of GE Aerospace by 13.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 4,851 shares of the company's stock valued at $973,000 after buying an additional 584 shares in the last quarter. Knightsbridge Asset Management LLC purchased a new stake in GE Aerospace in the 1st quarter valued at $312,000. Dynamic Technology Lab Private Ltd purchased a new stake in GE Aerospace in the 1st quarter valued at $1,555,000. Temasek Holdings Private Ltd raised its position in GE Aerospace by 34.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 406,126 shares of the company's stock valued at $81,286,000 after purchasing an additional 103,800 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in GE Aerospace by 2.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 66,173 shares of the company's stock valued at $13,245,000 after purchasing an additional 1,616 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GE shares. Citigroup reissued a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Finally, Barclays boosted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Price Performance

NYSE GE traded up $6.89 during trading hours on Wednesday, reaching $283.13. The company's stock had a trading volume of 3,188,972 shares, compared to its average volume of 5,870,348. The stock has a market cap of $300.25 billion, a PE ratio of 39.49, a PEG ratio of 2.97 and a beta of 1.48. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $284.41. The company's 50-day moving average is $267.16 and its two-hundred day moving average is $232.21. 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 issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

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.