Black Diamond Financial LLC Acquires New Stake in GE Aerospace $GE

Key Points

• Black Diamond Financial LLC has acquired a new stake in GE Aerospace, purchasing 1,239 shares valued at approximately $319,000.
• Equities research analysts have maintained a generally positive outlook on GE Aerospace, with several firms upgrading their price targets, including a target as high as $350.00.
• GE Aerospace recently announced a quarterly dividend of $0.36 per share, representing an annualized yield of 0.5% and reflecting a payout ratio of 20.08%.

Black Diamond Financial LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,239 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors have also added to or reduced their stakes in the business. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace during the 1st quarter valued at about $28,000. Nova Wealth Management Inc. purchased a new stake in GE Aerospace during the first quarter valued at about $29,000. IMG Wealth Management Inc. raised its position in GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company's stock valued at $29,000 after purchasing an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in GE Aerospace during the first quarter valued at about $30,000. Finally, First Pacific Financial raised its position in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Jefferies Financial Group raised their price target on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $281.27.

GE Aerospace Stock Up 1.3%

GE opened at $306.47 on Wednesday. The company has a market cap of $324.99 billion, a P/E ratio of 42.74, a P/E/G ratio of 3.26 and a beta of 1.49. The business's 50-day moving average price is $287.16 and its 200-day moving average price is $252.55. 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 12 month low of $159.36 and a 12 month high of $316.53.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company's quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts expect 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 will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's payout ratio is currently 20.08%.

GE Aerospace 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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