1,511 Shares in GE Aerospace $GE Bought by Lewis Asset Management LLC

Key Points

• Lewis Asset Management LLC purchased 1,511 shares of GE Aerospace, valued at approximately $389,000, reflecting ongoing interest from institutional investors in the company.
• Analysts have shown mixed sentiments, with Barclays increasing their price target from $230 to $295, while Wall Street Zen downgraded their rating from "buy" to "hold".
• GE Aerospace announced a quarterly dividend of $0.36 per share, marking a 0.5% dividend yield and demonstrating the firm's commitment to returning value to shareholders.

Lewis Asset Management LLC bought a new position in GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,511 shares of the company's stock, valued at approximately $389,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the first quarter worth $28,000. Copia Wealth Management grew its position in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new position in GE Aerospace in the first quarter worth $29,000. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace in the first quarter worth $30,000. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace in the first quarter worth $33,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GE. Wall Street Zen cut GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

Shares of GE opened at $301.62 on Monday. GE Aerospace has a one year low of $159.36 and a one year high of $303.03. The company has a 50-day simple moving average of $273.62 and a two-hundred day simple moving average of $237.38. The firm has a market capitalization of $319.85 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is 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 currently 20.08%.

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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