Aware Super Pty Ltd as trustee of Aware Super Makes New $4.60 Million Investment in GE Aerospace $GE

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in GE Aerospace (NYSE:GE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,864 shares of the company’s stock, valued at approximately $4,598,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC bought a new position in shares of GE Aerospace during the first quarter valued at approximately $1,606,840,000. Nuveen LLC purchased a new position in GE Aerospace during the 1st quarter valued at $777,075,000. Amundi grew its position in GE Aerospace by 124.0% in the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after acquiring an additional 1,771,944 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 acquiring an additional 1,492,486 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in GE Aerospace by 7,406.4% in the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after purchasing an additional 1,196,060 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

NYSE GE opened at $300.49 on Thursday. The company has a market cap of $318.65 billion, a PE ratio of 41.91, a P/E/G ratio of 3.23 and a beta of 1.49. The firm’s 50 day moving average price is $285.00 and its 200-day moving average price is $249.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25.

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

GE Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GE shares. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. TD Cowen upped their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group lifted their price target on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

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.