Chesapeake Wealth Management Acquires Shares of 959 GE Aerospace $GE

Key Points

• Chesapeake Wealth Management acquired 959 shares of GE Aerospace in Q2, valued at approximately $247,000, indicating growing interest from institutional investors in the company's stock.
• Recent analysts’ reports have increased price targets for GE Aerospace significantly, with Jefferies Financial Group setting a target of $350, reflecting strong market confidence.
• GE Aerospace announced a quarterly dividend of $0.36 per share, which will be paid on October 27th, 2023, contributing to an annualized yield of 0.5% for shareholders.

Chesapeake Wealth Management acquired a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 959 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management raised its position in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. Nova Wealth Management Inc. purchased a new stake in GE Aerospace in the 1st quarter worth about $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the first quarter worth approximately $30,000. Finally, First Pacific Financial increased its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the period. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Citigroup reiterated a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus target price of $267.13.

GE Aerospace Trading Up 0.9%

Shares of NYSE:GE opened at $300.28 on Wednesday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The company's 50 day moving average is $284.44 and its two-hundred day moving average is $248.71. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market cap of $318.43 billion, a PE ratio of 41.88, a P/E/G ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company's revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

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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