295,148 Shares in GE Aerospace $GE Purchased by Atalanta Sosnoff Capital LLC

Key Points

• Atalanta Sosnoff Capital LLC has acquired a new stake in GE Aerospace, purchasing 295,148 shares valued at approximately $59 million, now comprising 1.4% of its investment portfolio.
• Recent analyst upgrades have improved price targets for GE Aerospace, with UBS raising it from $300 to $321 and Citigroup increasing it from $227 to $296, reflecting strong confidence in the stock's performance.
• GE Aerospace reported a $1.66 EPS for the most recent quarter, exceeding estimates, and marked a 21.2% year-over-year revenue increase with guidance set for FY 2025 at 5.600-5.800 EPS.

Atalanta Sosnoff Capital LLC purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 295,148 shares of the company's stock, valued at approximately $59,074,000. GE Aerospace comprises about 1.4% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 24th largest position.

A number of other hedge funds have also bought and sold shares of GE. Brighton Jones LLC raised its stake in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the last quarter. Aptus Capital Advisors LLC raised its position in GE Aerospace by 20.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 14,158 shares of the company's stock worth $2,364,000 after acquiring an additional 2,451 shares during the period. Benjamin Edwards Inc. raised its position in GE Aerospace by 17.6% in the fourth quarter. Benjamin Edwards Inc. now owns 18,111 shares of the company's stock worth $3,021,000 after acquiring an additional 2,708 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in GE Aerospace in the fourth quarter worth about $1,725,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GE shares. Citigroup restated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

Shares of GE traded down $2.62 during mid-day trading on Friday, reaching $279.65. The stock had a trading volume of 4,950,277 shares, compared to its average volume of 4,005,729. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The business has a fifty day moving average of $266.25 and a 200 day moving average of $231.07. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $284.41. The firm has a market cap of $296.55 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 3.04 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping 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 firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace'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 analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 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.