Sumitomo Mitsui Trust Group Inc. Cuts Position in GE Aerospace $GE

Key Points

• Sumitomo Mitsui Trust Group Inc. has reduced its position in GE Aerospace by 5.2% during the second quarter, now owning 2,498,672 shares valued at $643 million.
• GE Aerospace reported a strong quarterly performance with earnings per share of $1.66, exceeding estimates by $0.20, and a revenue of $11.31 billion—a 26.4% increase year-over-year.
• The company has recently announced a quarterly dividend of $0.36, representing a 0.5% yield with a dividend payout ratio of 19.23%.

Sumitomo Mitsui Trust Group Inc. decreased its position in GE Aerospace (NYSE:GE - Free Report) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,498,672 shares of the company's stock after selling 135,871 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of GE Aerospace worth $643,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Brighton Jones LLC increased its position in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC increased its position in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC increased its position in shares of GE Aerospace by 18.5% during the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company's stock worth $5,066,000 after acquiring an additional 3,946 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of GE Aerospace by 186.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,044 shares of the company's stock worth $3,011,000 after acquiring an additional 9,800 shares during the period. Finally, Moran Wealth Management LLC increased its position in shares of GE Aerospace by 10.5% during the first quarter. Moran Wealth Management LLC now owns 1,503 shares of the company's stock worth $301,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE GE opened at $308.54 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.73. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.53. The company has a market capitalization of $325.45 billion, a PE ratio of 41.19, a P/E/G ratio of 3.11 and a beta of 1.49. The company has a fifty day moving average of $288.46 and a two-hundred day moving average of $253.82.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. GE Aerospace's revenue for the quarter was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed 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. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is currently 19.23%.

Analyst Ratings Changes

GE has been the topic of a number of recent research reports. Jefferies Financial Group upped their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. TD Cowen boosted their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Zacks Research downgraded shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Wolfe Research boosted their target price on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $284.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.