Mitsubishi UFJ Asset Management UK Ltd. Purchases 6,000 Shares of GE Aerospace (NYSE:GE)

Mitsubishi UFJ Asset Management UK Ltd. boosted its position in GE Aerospace (NYSE:GE) by 200.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. GE Aerospace comprises about 1.0% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 24th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in GE Aerospace were worth $1,801,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sfmg LLC boosted its stake in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company’s stock valued at $418,000 after purchasing an additional 48 shares during the period. SGL Investment Advisors Inc. lifted its position in shares of GE Aerospace by 3.6% during the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company’s stock valued at $303,000 after acquiring an additional 49 shares during the period. Hudock Inc. lifted its position in shares of GE Aerospace by 1.8% during the 1st quarter. Hudock Inc. now owns 2,905 shares of the company’s stock valued at $582,000 after acquiring an additional 50 shares during the period. First Pacific Financial lifted its position in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the period. Finally, First Heartland Consultants Inc. lifted its position in shares of GE Aerospace by 1.2% during the 4th quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company’s stock valued at $789,000 after acquiring an additional 54 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $269.09 on Thursday. The company has a market cap of $285.35 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 3.01 and a beta of 1.44. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $281.50. The business has a 50 day moving average price of $256.84 and a 200-day moving average price of $223.15. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during 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%. GE Aerospace’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GE shares. Citigroup reiterated a “buy” rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. UBS Group boosted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. 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 presently has an average rating of “Moderate Buy” and an average price target of $232.92.

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.