South Dakota Investment Council Acquires 6,506 Shares of GE Aerospace $GE

South Dakota Investment Council boosted its holdings in shares of GE Aerospace (NYSE:GE) by 40.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,715 shares of the company’s stock after purchasing an additional 6,506 shares during the quarter. South Dakota Investment Council’s holdings in GE Aerospace were worth $5,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the first quarter worth about $28,000. Nova Wealth Management Inc. bought a new position in GE Aerospace in the 1st quarter valued at $29,000. IMG Wealth Management Inc. increased its stake in GE Aerospace by 113.5% in the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after buying an additional 59 shares during the period. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the first quarter worth approximately $30,000. Finally, POM Investment Strategies LLC increased its holdings in 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 purchasing an additional 151 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE opened at $309.09 on Monday. The firm has a fifty day moving average price of $293.60 and a 200 day moving average price of $260.80. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The stock has a market cap of $326.03 billion, a P/E ratio of 41.27, a P/E/G ratio of 3.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the business earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts anticipate 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 issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GE shares. Zacks Research downgraded shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Citigroup reiterated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company lifted their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average 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.