880 Shares in GE Aerospace $GE Purchased by Renaissance Investment Group LLC

Key Points

• Renaissance Investment Group LLC purchased 880 shares of GE Aerospace in Q2, valued at approximately $227,000, indicating strong institutional interest in the stock.
• Wall Street analysts have a positive outlook on GE Aerospace, with price targets ranging from $232.92 to $321.00 and a consensus rating of "Moderate Buy."
• GE Aerospace recently reported earnings of $1.66 per share, surpassing estimates, with quarterly revenue hitting $10.15 billion, up 21.2% year-over-year.

Renaissance Investment Group LLC purchased a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 880 shares of the company's stock, valued at approximately $227,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC bought a new stake in shares of GE Aerospace in the 2nd quarter valued at approximately $1,773,000. Silverberg Bernstein Capital Management LLC lifted its position in shares of GE Aerospace by 213.7% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 6,296 shares of the company's stock worth $1,621,000 after buying an additional 4,289 shares during the period. Veracity Capital LLC boosted its stake in GE Aerospace by 8.8% in the 2nd quarter. Veracity Capital LLC now owns 1,430 shares of the company's stock valued at $368,000 after buying an additional 116 shares in the last quarter. Beacon Financial Group grew its position in GE Aerospace by 7.3% in the second quarter. Beacon Financial Group now owns 1,176 shares of the company's stock valued at $303,000 after acquiring an additional 80 shares during the period. Finally, Czech National Bank grew its position in GE Aerospace by 5.7% in the second quarter. Czech National Bank now owns 260,662 shares of the company's stock valued at $67,092,000 after acquiring an additional 14,144 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Up 1.8%

Shares of NYSE GE opened at $286.86 on Tuesday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $287.11. The firm's 50-day simple moving average is $270.09 and its 200 day simple moving average is $234.71. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $304.20 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 3.03 and a beta of 1.48.

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

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's payout ratio is 20.08%.

GE Aerospace Company Profile

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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