AMF Tjanstepension AB Acquires 59,298 Shares of GE Aerospace $GE

AMF Tjanstepension AB raised its holdings in shares of GE Aerospace (NYSE:GE) by 14.9% during the second quarter, Holdings Channel reports. The fund owned 457,850 shares of the company’s stock after buying an additional 59,298 shares during the period. GE Aerospace comprises about 0.8% of AMF Tjanstepension AB’s investment portfolio, making the stock its 29th biggest position. AMF Tjanstepension AB’s holdings in GE Aerospace were worth $117,846,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Old North State Wealth Management LLC lifted its holdings in shares of GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock valued at $542,000 after purchasing an additional 39 shares in the last quarter. Webster Bank N. A. lifted its holdings in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after purchasing an additional 41 shares in the last quarter. Pacific Sage Partners LLC lifted its holdings in shares of GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after purchasing an additional 41 shares in the last quarter. Ascent Capital Management LLC lifted its holdings in shares of GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock valued at $585,000 after purchasing an additional 42 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of GE Aerospace by 1.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company’s stock valued at $810,000 after purchasing an additional 43 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of GE opened at $297.40 on Friday. 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 business has a 50-day simple moving average of $280.65 and a two-hundred day simple moving average of $243.95. The stock has a market cap of $315.38 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 3.22 and a beta of 1.49. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 20.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GE shares. Citigroup reaffirmed a “buy” rating and set a $296.00 price target (up 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 research report on Saturday, September 27th. Jefferies Financial Group upped their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.92.

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.