Ergawealth Advisors Inc. acquired a new stake in GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 887 shares of the company's stock, valued at approximately $228,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the 1st quarter worth $28,000. Copia Wealth Management raised its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth about $29,000. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace in the first quarter worth about $30,000. Finally, First Pacific Financial increased its holdings in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Institutional investors own 74.77% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on GE shares. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a report on Saturday, September 27th. Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group boosted their price objective 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. Finally, Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.92.
Read Our Latest Stock Analysis on GE
GE Aerospace Stock Performance
Shares of GE opened at $297.40 on Friday. 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 stock has a market cap of $315.38 billion, a P/E ratio of 41.48, a P/E/G ratio of 3.20 and a beta of 1.49. The business's 50 day moving average price is $280.65 and its 200-day moving average price is $244.21. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25.
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 analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the company earned $1.20 EPS. The firm'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. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.
GE Aerospace Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's payout ratio is presently 20.08%.
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.
Further Reading
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