Amalgamated Bank Purchases 12,646 Shares of GE Aerospace $GE

by · The Markets Daily

Amalgamated Bank raised its position in GE Aerospace (NYSE:GE – Free Report) by 5.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 234,959 shares of the company’s stock after buying an additional 12,646 shares during the period. GE Aerospace makes up 0.5% of Amalgamated Bank’s portfolio, making the stock its 27th biggest holding. Amalgamated Bank’s holdings in GE Aerospace were worth $60,476,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. bought a new position in GE Aerospace in the first quarter valued at about $28,000. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at about $29,000. IMG Wealth Management Inc. increased its stake in shares of GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after buying an additional 59 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of GE Aerospace in the first quarter valued at about $30,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace in the first quarter valued at about $33,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Up 1.3%

NYSE GE opened at $313.92 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. GE Aerospace has a one year low of $159.36 and a one year high of $316.67. The business has a 50 day simple moving average of $291.90 and a 200 day simple moving average of $258.52. The stock has a market capitalization of $331.13 billion, a P/E ratio of 41.91, a P/E/G ratio of 3.04 and a beta of 1.49.

GE Aerospace (NYSE:GE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating 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 firm had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were issued 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 currently 19.23%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GE. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. TD Cowen increased their price target on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $301.27.

View Our Latest Analysis 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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