Pacific Wealth Strategies Group Inc. Buys New Position in GE Aerospace $GE

by · The Cerbat Gem

Pacific Wealth Strategies Group Inc. acquired a new position in shares of GE Aerospace (NYSE:GE – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,227 shares of the company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the 1st quarter worth approximately $28,000. Nova Wealth Management Inc. purchased a new stake in GE Aerospace during the 1st quarter worth approximately $29,000. IMG Wealth Management Inc. increased its holdings in GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in GE Aerospace during the 1st quarter worth approximately $30,000. Finally, POM Investment Strategies LLC increased its holdings in GE Aerospace by 1,078.6% during the 1st quarter. POM Investment Strategies LLC now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 151 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Down 0.1%

Shares of GE stock opened at $308.74 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The stock has a fifty day moving average of $294.44 and a two-hundred day moving average of $261.69. The firm has a market capitalization of $325.67 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49.

GE Aerospace (NYSE:GE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm’s quarterly 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, research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GE. Wolfe Research lifted their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their target price on GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. TD Cowen lifted their target price on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, Bank of America lifted their target price on GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $301.27.

Get Our Latest Stock Report on GE Aerospace

About GE Aerospace

(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.

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