Bridges Investment Management Inc. Increases Holdings in GE Aerospace $GE

Bridges Investment Management Inc. lifted its position in GE Aerospace (NYSE:GE) by 0.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,540 shares of the company’s stock after purchasing an additional 87 shares during the period. Bridges Investment Management Inc.’s holdings in GE Aerospace were worth $2,456,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after purchasing an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 1,492,486 shares during the period. Invesco Ltd. boosted its holdings in shares of GE Aerospace by 0.6% in the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the period. GQG Partners LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GE Aerospace by 6.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after purchasing an additional 491,207 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wolfe Research boosted their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Jefferies Financial Group boosted their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Barclays boosted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $267.13.

GE Aerospace Stock Performance

Shares of GE stock opened at $299.52 on Friday. The business’s fifty day simple moving average is $285.55 and its 200-day simple moving average is $249.76. The company has a market cap of $317.62 billion, a PE ratio of 41.77, a PEG ratio of 3.23 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.20 earnings per share. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 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 20.08%.

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.