Vontobel Holding Ltd. Raises Stake in GE Aerospace $GE

Key Points

• Vontobel Holding Ltd. increased its stake in GE Aerospace by 255.5%, owning 106,752 shares worth approximately $27.5 million after acquiring an additional 76,724 shares in Q2.
• GE Aerospace's recent quarterly earnings reported $1.66 EPS, surpassing estimates by $0.23, while revenues climbed by 21.2% year-over-year to $10.15 billion.
• The company will pay a quarterly dividend of $0.36 per share on October 27, representing an annualized yield of 0.5% with a payout ratio of 20.08%.

Vontobel Holding Ltd. boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 255.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,752 shares of the company's stock after acquiring an additional 76,724 shares during the quarter. Vontobel Holding Ltd.'s holdings in GE Aerospace were worth $27,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Maryland State Retirement & Pension System boosted its holdings in GE Aerospace by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 51,112 shares of the company's stock worth $13,156,000 after acquiring an additional 778 shares during the period. Optas LLC boosted its holdings in GE Aerospace by 7.8% in the 2nd quarter. Optas LLC now owns 8,433 shares of the company's stock worth $2,171,000 after acquiring an additional 610 shares during the period. Clear Creek Financial Management LLC boosted its holdings in GE Aerospace by 49.0% in the 2nd quarter. Clear Creek Financial Management LLC now owns 3,515 shares of the company's stock worth $905,000 after acquiring an additional 1,156 shares during the period. Ignite Planners LLC boosted its holdings in GE Aerospace by 12.5% in the 2nd quarter. Ignite Planners LLC now owns 4,159 shares of the company's stock worth $1,095,000 after acquiring an additional 463 shares during the period. Finally, Morton Capital Management LLC CA purchased a new position in GE Aerospace in the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. UBS Group upped 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. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the company 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 research report on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $350.00 target price on shares of GE Aerospace in a research report on Wednesday. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, GE Aerospace currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.31.

GE Aerospace Stock Performance

GE stock opened at $299.18 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The firm has a market cap of $317.26 billion, a P/E ratio of 41.73, a P/E/G ratio of 3.25 and a beta of 1.49. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The stock's 50 day simple moving average is $282.99 and its 200 day simple moving average is $246.55.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

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.