Auto Owners Insurance Co Increases Stock Holdings in GE Aerospace $GE

Auto Owners Insurance Co boosted its position in GE Aerospace (NYSE:GE) by 162.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 502,660 shares of the company’s stock after acquiring an additional 311,139 shares during the period. GE Aerospace accounts for approximately 2.9% of Auto Owners Insurance Co’s portfolio, making the stock its 7th largest holding. Auto Owners Insurance Co’s holdings in GE Aerospace were worth $129,380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Ameriflex Group Inc. increased its position in shares of GE Aerospace by 23.5% during the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after buying an additional 331 shares during the period. Smartleaf Asset Management LLC increased its position in shares of GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after buying an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace during the first quarter valued at about $203,000. Concurrent Investment Advisors LLC increased its position in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after buying an additional 8,245 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of GE Aerospace by 7.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock valued at $46,876,000 after buying an additional 11,873 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GE. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Wolfe Research upped their price target on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Stock Performance

NYSE GE opened at $309.76 on Wednesday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The company has a market capitalization of $326.74 billion, a P/E ratio of 41.36, a P/E/G ratio of 3.17 and a beta of 1.49. The company has a fifty day moving average of $290.96 and a 200-day moving average of $257.59.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same period in the previous year, the firm posted $1.15 EPS. The firm’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. As a group, equities research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Monday, September 29th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 19.23%.

GE Aerospace 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.