Zurich Insurance Group Ltd FI Raises Holdings in GE Aerospace $GE

Key Points

• Zurich Insurance Group Ltd FI increased its holdings in GE Aerospace by 70.9% in Q1, owning 544,530 shares valued at approximately $108.99 million.
• A range of hedge funds are modifying their positions in GE Aerospace, with GQG Partners acquiring a stake worth about $1.61 billion and GAMMA Investing seeing a massive increase in holdings.
• GE Aerospace reported a strong Q2 earnings of $1.66 EPS, exceeding estimates, with revenue of $10.15 billion and a net margin of 18.64%.

Zurich Insurance Group Ltd FI lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 70.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,530 shares of the company's stock after purchasing an additional 225,855 shares during the period. Zurich Insurance Group Ltd FI owned about 0.05% of GE Aerospace worth $108,988,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GQG Partners LLC acquired a new stake in GE Aerospace during the first quarter worth approximately $1,606,840,000. GAMMA Investing LLC lifted its holdings in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after acquiring an additional 5,044,632 shares in the last quarter. Nuveen LLC acquired a new position in shares of GE Aerospace during the 1st quarter valued at $777,075,000. Amundi increased its stake in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after buying an additional 1,771,944 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after buying an additional 1,492,486 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GE shares. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 1.2%

GE stock opened at $275.80 on Tuesday. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $284.41. The firm has a market cap of $292.47 billion, a PE ratio of 38.47, a P/E/G ratio of 3.00 and a beta of 1.48. The firm has a 50 day simple moving average of $266.62 and a 200 day simple moving average of $231.90. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

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

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 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.

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