What Happened
Investment Firm Boosts Holdings Amid Strong Engine Demand
Amundi has increased its stake in GE Aerospace by 135.2% during the first quarter, according to the company’s most recent disclosure with the SEC. The firm now owns 6,119,975 shares of GE Aerospace, valued at approximately $1.7 billion. GE Aerospace’s strong engine demand and robust backlog of roughly $210 billion may have contributed to Amundi’s decision to increase its stake. The company recently reported $2.02 EPS for the quarter, beating consensus estimates. This news was first reported by MarketBeat.