Mitsubishi UFJ Trust & Banking Corp Purchases 31,862 Shares of GE Aerospace (NYSE:GE)

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of GE Aerospace (NYSE:GE) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,220 shares of the company’s stock after buying an additional 31,862 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in GE Aerospace were worth $109,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of GE. FMR LLC lifted its holdings in GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after buying an additional 965,012 shares during the period. Northern Trust Corp lifted its holdings in GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after buying an additional 553,104 shares during the period. Invesco Ltd. lifted its holdings in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after buying an additional 1,204,910 shares during the period. Canada Pension Plan Investment Board lifted its holdings in GE Aerospace by 11.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company’s stock valued at $1,259,438,000 after buying an additional 781,574 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in GE Aerospace by 9.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company’s stock worth $1,198,382,000 after purchasing an additional 628,458 shares during the period. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays increased their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Citigroup restated a “buy” rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.92.

GE Aerospace Trading Down 0.6%

Shares of NYSE GE opened at $269.49 on Friday. 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 $150.20 and a 52-week high of $274.94. The firm has a 50 day moving average price of $252.13 and a two-hundred day moving average price of $218.37. The stock has a market cap of $285.78 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.44.

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

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 20.08%.

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.