626 Financial LLC Purchases New Holdings in GE Aerospace $GE
by Jessica Moore · The Cerbat Gem626 Financial LLC purchased a new stake in shares of GE Aerospace (NYSE:GE – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 852 shares of the company’s stock, valued at approximately $219,000.
Several other large investors have also recently bought and sold shares of the stock. Analyst IMS Investment Management Services Ltd. boosted its position in GE Aerospace by 105.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,241 shares of the company’s stock valued at $1,606,000 after purchasing an additional 3,206 shares during the last quarter. WNY Asset Management LLC boosted its position in GE Aerospace by 6.9% during the second quarter. WNY Asset Management LLC now owns 3,228 shares of the company’s stock valued at $831,000 after purchasing an additional 207 shares during the last quarter. Wealth Management Associates Inc. boosted its position in GE Aerospace by 19.2% during the second quarter. Wealth Management Associates Inc. now owns 5,791 shares of the company’s stock valued at $1,490,000 after purchasing an additional 934 shares during the last quarter. Quaker Wealth Management LLC boosted its position in GE Aerospace by 230.8% during the second quarter. Quaker Wealth Management LLC now owns 437 shares of the company’s stock valued at $112,000 after purchasing an additional 771 shares during the last quarter. Finally, Oarsman Capital Inc. acquired a new position in GE Aerospace during the second quarter valued at approximately $250,000. 74.77% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on GE shares. Royal Bank Of Canada increased their price target on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Jefferies Financial Group upped their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research note on Monday. Finally, UBS Group set a $366.00 price objective on GE Aerospace and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, GE Aerospace has an average rating of “Moderate Buy” and an average price target of $301.27.
Check Out Our Latest Analysis on GE
GE Aerospace Price Performance
Shares of NYSE GE opened at $309.76 on Wednesday. The firm has a market cap of $326.74 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.49. 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 1-year low of $159.36 and a 1-year high of $316.67. The business’s 50 day moving average is $290.96 and its 200-day moving average is $257.59.
GE Aerospace (NYSE:GE – Get Free Report) last announced its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 34.01% and a net margin of 18.34%.The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.
GE Aerospace Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 19.23%.
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.
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