Bennett Associates Wealth Management Acquires New Shares in GE Aerospace $GE

Key Points

• Bennett Associates Wealth Management acquired 1,291 shares of GE Aerospace valued at approximately $332,000 in the 2nd quarter of this year.
• GE Aerospace reported a 21.2% year-over-year revenue increase, with revenue reaching $10.15 billion and earnings of $1.66 per share, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.36 per share, with the ex-dividend date set for September 29th, resulting in an annual yield of 0.5%.

Bennett Associates Wealth Management acquired a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,291 shares of the company's stock, valued at approximately $332,000.

A number of other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. raised its stake in shares of GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company's stock worth $437,000 after buying an additional 331 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after acquiring an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new position in GE Aerospace during the 1st quarter valued at about $203,000. Concurrent Investment Advisors LLC raised its position in GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC lifted its holdings in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.4%

Shares of NYSE GE opened at $298.16 on Tuesday. The firm has a market cap of $316.18 billion, a P/E ratio of 41.58, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. 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 has a 1 year low of $159.36 and a 1 year high of $307.25. The firm's 50 day moving average price is $281.20 and its 200 day moving average price is $245.15.

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, topping 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GE. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Wall Street Zen downgraded GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Jefferies Financial Group boosted their price target on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $241.92.

GE Aerospace Company Profile

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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