Nvest Financial LLC Grows Stake in GE Aerospace $GE

Nvest Financial LLC boosted its position in GE Aerospace (NYSE:GE) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,091 shares of the company’s stock after buying an additional 42 shares during the period. Nvest Financial LLC’s holdings in GE Aerospace were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after purchasing an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares in the last quarter. Invesco Ltd. increased its stake in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after purchasing an additional 54,765 shares in the last quarter. GQG Partners LLC acquired a new stake in GE Aerospace during the 1st quarter valued at $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GE Aerospace by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after buying an additional 491,207 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE stock opened at $300.49 on Thursday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The stock’s fifty day simple moving average is $285.00 and its 200-day simple moving average is $249.07. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $318.65 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business’s revenue was up 21.2% on a year-over-year basis. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GE shares. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. TD Cowen increased their target price on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Citigroup reiterated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

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.