Callan Family Office LLC Buys 46,461 Shares of GE Aerospace $GE

Key Points

• Callan Family Office LLC significantly increased its stake in GE Aerospace by 229.5%, acquiring an additional 46,461 shares to bring its total to 66,702 shares valued at $17.17 million.
• Analysts have varying outlooks on GE Aerospace; Jefferies raised its target price to $350.00 with a "buy" rating, while Zacks downgraded it from "strong-buy" to "hold."
• GE Aerospace reported earnings of $1.66 per share, exceeding estimates, with a revenue increase of 21.2% year-over-year, leading to positive market reactions despite a recent stock price drop of 1.1%.

Callan Family Office LLC grew its position in GE Aerospace (NYSE:GE - Free Report) by 229.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,702 shares of the company's stock after purchasing an additional 46,461 shares during the period. Callan Family Office LLC's holdings in GE Aerospace were worth $17,168,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Old North State Wealth Management LLC boosted its stake in GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after acquiring an additional 39 shares during the last quarter. Webster Bank N. A. grew its position in GE Aerospace by 2.1% in the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after purchasing an additional 41 shares in the last quarter. Pacific Sage Partners LLC grew its position in GE Aerospace by 3.5% in the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock valued at $314,000 after purchasing an additional 41 shares in the last quarter. Ascent Capital Management LLC grew its position in shares of GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock valued at $585,000 after acquiring an additional 42 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in shares of GE Aerospace by 1.1% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock valued at $810,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday. Zacks Research cut shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Finally, Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.31.

GE Aerospace Stock Down 1.1%

Shares of NYSE GE opened at $299.18 on Friday. The firm has a market cap of $317.26 billion, a PE ratio of 41.73, a P/E/G ratio of 3.25 and a beta of 1.49. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The company's fifty day simple moving average is $282.99 and its 200 day simple moving average is $246.55. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

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 for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. The business's quarterly 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. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is 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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