Mitsubishi UFJ Trust & Banking Corp Boosts Stake in GE Aerospace (NYSE:GE)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in GE Aerospace (NYSE:GE) by 6.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 547,220 shares of the company’s stock after buying an additional 31,862 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of GE Aerospace worth $109,526,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after buying an additional 142 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the 1st quarter valued at $33,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Citigroup reiterated a “buy” rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.92.

GE Aerospace Trading Down 0.6%

NYSE GE opened at $269.49 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. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $274.94. The firm’s fifty day simple moving average is $252.13 and its 200-day simple moving average is $218.37. The company has a market capitalization of $285.78 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44.

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

GE Aerospace Dividend Announcement

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

GE Aerospace Company 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.