Waterfront Wealth Inc. Increases Stock Position in GE Aerospace $GE

by · The Cerbat Gem

Waterfront Wealth Inc. boosted its stake in shares of GE Aerospace (NYSE:GE – Free Report) by 7.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,345 shares of the company’s stock after acquiring an additional 154 shares during the quarter. Waterfront Wealth Inc.’s holdings in GE Aerospace were worth $604,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. boosted its stake in GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after buying an additional 59 shares during the period. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the first quarter worth about $28,000. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the first quarter worth about $29,000. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the first quarter worth about $30,000. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the first quarter worth about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research note on Wednesday, October 8th. Citigroup reissued a “buy” rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group increased their price target on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group increased their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.27.

Read Our Latest Stock Analysis on GE Aerospace

GE Aerospace Stock Up 1.3%

Shares of NYSE:GE opened at $313.92 on Thursday. The firm’s 50 day moving average price is $291.90 and its 200 day moving average price is $258.52. The stock has a market cap of $331.13 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 3.04 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.67. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE – Get Free Report) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm’s 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. As a group, equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 19.23%.

GE Aerospace Company 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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