Resona Asset Management Co. Ltd. Has $93.95 Million Stock Holdings in GE Aerospace $GE

Resona Asset Management Co. Ltd. raised its holdings in shares of GE Aerospace (NYSE:GE) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,643 shares of the company’s stock after acquiring an additional 15,846 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in GE Aerospace were worth $93,948,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Nova Wealth Management Inc. bought a new position in shares of GE Aerospace during the 1st quarter worth approximately $29,000. IMG Wealth Management Inc. grew its stake in shares of GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after acquiring an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace during the 1st quarter worth approximately $30,000. Finally, POM Investment Strategies LLC grew its stake in shares of GE Aerospace by 1,078.6% during the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 151 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Up 0.3%

GE opened at $305.05 on Thursday. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $316.67. The stock’s fifty day simple moving average is $295.66 and its 200 day simple moving average is $262.85. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The stock has a market cap of $321.77 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49.

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

GE Aerospace Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on GE shares. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Bank of America raised their price target on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. TD Cowen raised their price target 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. Jefferies Financial Group increased their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, UBS Group set a $366.00 price objective on GE Aerospace and gave the company a “buy” rating in a report on Wednesday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.27.

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.