GE Aerospace $GE Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its stake in GE Aerospace (NYSE:GE) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 820,130 shares of the company’s stock after buying an additional 22,647 shares during the period. Adage Capital Partners GP L.L.C. owned 0.08% of GE Aerospace worth $211,093,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in GE Aerospace during the 2nd quarter worth about $3,408,828,000. Amundi lifted its holdings in shares of GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after purchasing an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD boosted its position in GE Aerospace by 6.3% in the first 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 buying an additional 1,492,486 shares during the last quarter. Vanguard Group Inc. boosted its position in GE Aerospace by 1.6% in the second quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock valued at $23,677,180,000 after buying an additional 1,482,069 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in GE Aerospace by 7,406.4% in the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after buying an additional 1,196,060 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Trading Up 4.1%

Shares of NYSE:GE opened at $300.23 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The firm has a market capitalization of $316.69 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth 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 business’s 50 day moving average price is $299.55 and its 200-day moving average price is $277.98.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. The business had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Jefferies Financial Group lifted their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Bank of America boosted their target price on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Wolfe Research increased their price target on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. UBS Group set a $366.00 price objective on GE Aerospace and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Citigroup initiated coverage on GE Aerospace in a report on Thursday. They issued a “buy” rating and a $386.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.94.

Insider Buying and Selling at GE Aerospace

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

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.