Ascent Group LLC Trims Holdings in GE Aerospace $GE

Key Points

• Ascent Group LLC reduced its holdings in GE Aerospace by 19.2% in Q2, leaving them with 14,392 shares valued at approximately $3.7 million.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding analysts' estimates, with revenues soaring to $10.15 billion, marking a 21.2% increase year over year.
• The company declared a $0.36 quarterly dividend, with an annualized payout of $1.44 and a dividend yield of 0.5%, reflecting a payout ratio of 20.08%.

Ascent Group LLC trimmed its position in GE Aerospace (NYSE:GE - Free Report) by 19.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,392 shares of the company's stock after selling 3,414 shares during the quarter. Ascent Group LLC's holdings in GE Aerospace were worth $3,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Old North State Wealth Management LLC raised its stake in shares of GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock worth $542,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. raised its position in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC raised its position in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock valued at $314,000 after acquiring an additional 41 shares in the last quarter. Ascent Capital Management LLC raised its position in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock valued at $585,000 after acquiring an additional 42 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its position in GE Aerospace by 1.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock valued at $810,000 after acquiring an additional 43 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

NYSE GE opened at $297.40 on Friday. The firm has a market cap of $315.38 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 3.20 and a beta of 1.49. The company has a 50 day moving average of $280.65 and a 200-day moving average of $244.21. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly 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. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. 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%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup reiterated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Jefferies Financial Group lifted their price target on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Finally, Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.