Axxcess Wealth Management LLC Buys 9,223 Shares of GE Aerospace $GE

Key Points

• Axxcess Wealth Management LLC increased its stake in GE Aerospace by 70.8%, owning a total of 22,253 shares valued at approximately $5.7 million after acquiring 9,223 additional shares in the second quarter.
• GE Aerospace reported earnings of $1.66 per share, exceeding analyst expectations, with revenues of $10.15 billion, a 21.2% year-over-year increase.
• The company announced a quarterly dividend of $0.36 per share, effective October 27th, reflecting a yield of 0.5% and a payout ratio of 20.08%.

Axxcess Wealth Management LLC grew its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 70.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,253 shares of the company's stock after purchasing an additional 9,223 shares during the period. Axxcess Wealth Management LLC's holdings in GE Aerospace were worth $5,728,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management boosted its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. bought a new stake in shares of GE Aerospace during the 1st quarter valued at about $29,000. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace during the 1st quarter valued at about $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the 1st quarter valued at about $33,000. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 0.9%

Shares of NYSE GE opened at $300.28 on Wednesday. The firm's 50 day moving average price is $284.44 and its 200-day moving average price is $248.71. The company has a market cap of $318.43 billion, a PE ratio of 41.88, a P/E/G ratio of 3.20 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's payout ratio is presently 20.08%.

Analyst Ratings Changes

Several equities research analysts recently commented on GE shares. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, October 10th. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $267.13.

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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