Reliant Investment Partners LLC Raises Stock Position in GE Aerospace $GE

by · The Cerbat Gem

Reliant Investment Partners LLC increased its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 3.8% in the second quarter, Holdings Channel reports. The firm owned 2,586 shares of the company’s stock after acquiring an additional 94 shares during the period. Reliant Investment Partners LLC’s holdings in GE Aerospace were worth $666,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. grew its stake in shares of GE Aerospace by 23.5% in the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after buying an additional 331 shares in the last quarter. Smartleaf Asset Management LLC grew its position in GE Aerospace by 17.1% in the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after acquiring an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace during the first quarter valued at approximately $203,000. Concurrent Investment Advisors LLC raised its stake in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of GE Aerospace by 7.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock worth $46,876,000 after purchasing an additional 11,873 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of GE opened at $313.06 on Tuesday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The firm has a market cap of $330.22 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 3.14 and a beta of 1.49. The stock has a 50 day moving average of $290.08 and a 200-day moving average of $256.70.

GE Aerospace (NYSE:GE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.20. The business 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 business’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 EPS. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is presently 19.23%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GE. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Monday. Wolfe Research boosted their price target on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. raised their price objective on GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup restated a “buy” rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.27.

Get Our Latest Stock Analysis on GE

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.

Further Reading

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