Sumitomo Mitsui Trust Group Inc. Has $757.05 Million Position in GE Aerospace $GE

Sumitomo Mitsui Trust Group Inc. grew its position in shares of GE Aerospace (NYSE:GE) by 0.7% during the third quarter, HoldingsChannel.com reports. The firm owned 2,516,614 shares of the company’s stock after purchasing an additional 17,942 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GE Aerospace were worth $757,048,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in GE Aerospace in the 2nd quarter valued at approximately $3,408,828,000. Vanguard Group Inc. increased its holdings in GE Aerospace by 1.6% in the second quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock valued at $23,677,180,000 after purchasing an additional 1,482,069 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in GE Aerospace during the 2nd quarter worth $227,998,000. Lazard Asset Management LLC lifted its holdings in GE Aerospace by 4,253.7% during the 2nd quarter. Lazard Asset Management LLC now owns 796,422 shares of the company’s stock worth $204,991,000 after buying an additional 778,129 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of GE Aerospace by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 24,113,967 shares of the company’s stock valued at $6,181,956,000 after buying an additional 724,559 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the transaction, the senior vice president directly owned 150,434 shares in the company, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

GE Aerospace Trading Up 2.3%

GE opened at $321.65 on Monday. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $332.79. The firm has a market capitalization of $339.28 billion, a PE ratio of 42.94, a P/E/G ratio of 2.20 and a beta of 1.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The company’s 50-day moving average is $303.28 and its 200 day moving average is $288.09.

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

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, December 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, December 29th. This represents a $1.44 annualized dividend and a yield of 0.4%. GE Aerospace’s dividend payout ratio is 19.23%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GE. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Jefferies Financial Group raised their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wolfe Research boosted their price target on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. BNP Paribas Exane initiated coverage on GE Aerospace in a report on Tuesday, November 18th. They set an “underperform” rating on the stock. Finally, Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and an average price target of $309.94.

GE Aerospace Profile

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.