First Trust Advisors LP Has $234.27 Million Holdings in GE Aerospace $GE

First Trust Advisors LP raised its position in shares of GE Aerospace (NYSE:GE) by 89.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 910,161 shares of the company’s stock after buying an additional 429,213 shares during the period. First Trust Advisors LP’s holdings in GE Aerospace were worth $234,267,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GE. Norges Bank acquired a new position in GE Aerospace in the 2nd quarter worth approximately $3,408,828,000. GQG Partners LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at $1,606,840,000. Nuveen LLC acquired a new stake in shares of GE Aerospace in the first quarter worth $777,075,000. Amundi raised its position in GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after buying an additional 1,771,944 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted 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 worth $5,030,028,000 after acquiring an additional 1,492,486 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 1.0%

GE stock opened at $291.49 on Friday. The firm has a market cap of $307.47 billion, a PE ratio of 38.92, a PEG ratio of 2.24 and a beta of 1.40. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The company has a fifty day simple moving average of $300.74 and a 200 day simple moving average of $275.69. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, December 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, December 29th. GE Aerospace’s payout ratio is 19.23%.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the transaction, the senior vice president owned 150,434 shares in the company, valued at $44,785,706.14. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. TD Cowen boosted their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research note on Monday, October 27th. BNP Paribas Exane started coverage on shares of GE Aerospace in a research note on Tuesday, November 18th. They set an “underperform” rating for the company. Finally, Susquehanna began coverage on shares of GE Aerospace in a report on Thursday. They set a “positive” rating and a $350.00 price target on the stock. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.31.

About GE Aerospace

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.