Byrne Asset Management LLC Takes $1.77 Million Position in GE Aerospace $GE

Byrne Asset Management LLC acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,887 shares of the company's stock, valued at approximately $1,773,000. GE Aerospace comprises approximately 1.2% of Byrne Asset Management LLC's investment portfolio, making the stock its 18th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in GE Aerospace during the fourth quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after buying an additional 142 shares during the last quarter. Nova Wealth Management Inc. acquired a new position in GE Aerospace during the first quarter worth $29,000. Finally, Wealth Preservation Advisors LLC acquired a new position in GE Aerospace during the first quarter worth $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GE shares. Citigroup restated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada lifted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

GE Aerospace stock opened at $286.86 on Tuesday. The business has a 50 day moving average of $270.09 and a 200-day moving average of $234.71. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $287.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market capitalization of $304.20 billion, a P/E ratio of 40.01, a P/E/G ratio of 3.03 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. The firm's revenue 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. On average, equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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