Cadinha & Co. LLC Buys New Holdings in GE Aerospace $GE

Key Points

• Cadinha & Co. LLC has purchased a new position in GE Aerospace, acquiring 38,174 shares valued at approximately $9.8 million, now representing 1.6% of its investment portfolio.
• Recent analyst reports indicate a strong bullish outlook for GE Aerospace, with numerous firms including Wolfe Research and Jefferies Financial Group raising price targets and maintaining "buy" ratings.
• GE Aerospace reported a quarterly EPS of $1.66, surpassing expectations, alongside significant revenue growth of 26.4% year-over-year, setting strong guidance for FY 2025.

Cadinha & Co. LLC purchased a new position in GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 38,174 shares of the company's stock, valued at approximately $9,826,000. GE Aerospace accounts for about 1.6% of Cadinha & Co. LLC's investment portfolio, making the stock its 22nd largest position.

Other institutional investors have also recently made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the 1st quarter valued at $28,000. Nova Wealth Management Inc. bought a new position in shares of GE Aerospace during the first quarter valued at about $29,000. IMG Wealth Management Inc. boosted its holdings in shares of GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company's stock worth $29,000 after purchasing an additional 59 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace in the first quarter worth about $30,000. Finally, First Pacific Financial increased its holdings in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Wolfe Research boosted their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Jefferies Financial Group upped their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. The Goldman Sachs Group lifted their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, October 10th. Finally, TD Cowen increased their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $284.27.

GE Aerospace Stock Performance

Shares of GE opened at $299.88 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $318.01 billion, a P/E ratio of 39.80, a P/E/G ratio of 3.20 and a beta of 1.49. The business's 50 day moving average price is $287.74 and its 200-day moving average price is $252.86. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.20. GE Aerospace had a return on equity of 33.81% and a net margin of 18.34%.The business had revenue of $11.31 billion during the quarter, compared to analysts' expectations of $10.29 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. The firm's quarterly revenue was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. 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 currently 19.23%.

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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