GE Aerospace $GE Shares Purchased by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. grew its stake in shares of GE Aerospace (NYSE:GE) by 41,221.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,181 shares of the company’s stock after acquiring an additional 68,016 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in GE Aerospace were worth $13,646,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC increased its holdings in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after buying an additional 150 shares during the period. First Trust Advisors LP increased its holdings in GE Aerospace by 2.1% in the 4th quarter. First Trust Advisors LP now owns 248,327 shares of the company’s stock worth $41,418,000 after buying an additional 5,198 shares during the period. Ossiam increased its holdings in GE Aerospace by 27.9% in the 4th quarter. Ossiam now owns 14,850 shares of the company’s stock worth $2,477,000 after buying an additional 3,241 shares during the period. Finally, Natixis increased its holdings in GE Aerospace by 63.2% in the 4th quarter. Natixis now owns 12,052 shares of the company’s stock worth $2,010,000 after buying an additional 4,669 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.2%

Shares of NYSE:GE opened at $268.46 on Tuesday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $281.50. The firm has a market capitalization of $284.69 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 2.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The business’s 50 day moving average price is $257.78 and its 200-day moving average price is $224.93.

GE Aerospace (NYSE:GE) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (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 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s payout ratio is currently 20.08%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GE shares. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Citigroup restated a “buy” rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Friday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.92.

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.