Baxter Bros Inc. Decreases Holdings in GE Aerospace $GE

Baxter Bros Inc. cut its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,945 shares of the company's stock after selling 1,071 shares during the period. GE Aerospace comprises approximately 1.4% of Baxter Bros Inc.'s holdings, making the stock its 21st largest position. Baxter Bros Inc.'s holdings in GE Aerospace were worth $11,054,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GE. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the 1st quarter valued at $28,000. Copia Wealth Management increased its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter worth $29,000. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the 1st quarter worth $30,000. Finally, First Pacific Financial increased its stake in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GE. Jefferies Financial Group upped their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday. Finally, Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.31.

GE Aerospace Trading Up 0.3%

Shares of GE stock opened at $302.56 on Thursday. 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. The firm has a market capitalization of $320.85 billion, a PE ratio of 42.20, a PEG ratio of 3.25 and a beta of 1.49. The stock has a fifty day simple moving average of $282.43 and a two-hundred day simple moving average of $245.94.

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 (EPS) for the quarter, topping 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 return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date 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 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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

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.