Holocene Advisors LP Raises Position in GE Aerospace $GE

by · The Markets Daily

Holocene Advisors LP increased its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 36.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 992,316 shares of the company’s stock after buying an additional 262,497 shares during the quarter. Holocene Advisors LP’s holdings in GE Aerospace were worth $255,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GE. Norges Bank purchased a new stake in shares of GE Aerospace during the second quarter worth about $3,408,828,000. Amundi boosted its stake in GE Aerospace by 124.0% in the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after purchasing an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares in the last quarter. Vanguard Group Inc. grew its position in GE Aerospace by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock worth $23,677,180,000 after purchasing an additional 1,482,069 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in GE Aerospace by 7,406.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock valued at $242,624,000 after purchasing an additional 1,196,060 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Up 4.1%

Shares of NYSE:GE opened at $300.23 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.67. The business has a 50 day moving average of $299.55 and a two-hundred day moving average of $277.98. The company has a market capitalization of $316.69 billion, a PE ratio of 40.08, a PEG ratio of 2.24 and a beta of 1.40.

GE Aerospace (NYSE:GE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter last year, the company earned $1.15 EPS. The business’s revenue 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, 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 will be paid on Monday, January 26th. Shareholders of record on Monday, December 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s payout ratio is presently 19.23%.

Insider Buying and Selling at GE Aerospace

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GE. The Goldman Sachs Group boosted their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Royal Bank Of Canada increased their price objective on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Citigroup initiated coverage on GE Aerospace in a research note on Thursday. They issued a “buy” rating and a $386.00 price objective for the company. Wolfe Research upped their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, BNP Paribas Exane initiated coverage on shares of GE Aerospace in a report on Tuesday, November 18th. They issued an “underperform” rating on the stock. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $309.94.

Get Our Latest Analysis on GE Aerospace

GE Aerospace Profile

(Free Report)

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.

See Also

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