Concord Asset Management LLC VA Takes Position in GE Aerospace $GE

Key Points

• Concord Asset Management LLC acquired 844 shares of GE Aerospace valued at approximately $217,000 during the second quarter, indicating growing institutional interest in the company.
• GE Aerospace reported a strong quarterly performance, with a 21.2% year-over-year revenue increase and earnings per share of $1.66, surpassing analyst expectations.
• The company recently announced a quarterly dividend of $0.36, reflecting a 0.5% dividend yield and a payout ratio of 20.08%.

Concord Asset Management LLC VA bought a new stake in GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 844 shares of the company's stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old North State Wealth Management LLC grew its position in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock worth $542,000 after acquiring an additional 39 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after purchasing an additional 39 shares during the period. Webster Bank N. A. raised its holdings in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after purchasing an additional 41 shares during the period. Pacific Sage Partners LLC raised its holdings in shares of GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after purchasing an additional 41 shares during the period. Finally, Ascent Capital Management LLC raised its holdings in shares of GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after purchasing an additional 42 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Up 2.1%

GE stock opened at $297.47 on Tuesday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The company has a market capitalization of $315.45 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The firm's 50-day moving average is $283.87 and its two-hundred day moving average is $248.35. 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 (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday. Wolfe Research lifted their target price on GE Aerospace from $280.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average price target of $267.13.

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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