Ethic Inc. Acquires 1,228 Shares of GE Aerospace $GE

Key Points

• Ethic Inc. increased its holdings in GE Aerospace by 1,228 shares, resulting in total ownership of 53,059 shares worth approximately $13.5 million.
• Analyst price targets have been raised for GE Aerospace, with Sanford C. Bernstein setting a new target of $374.00 and several other firms maintaining or increasing their buy ratings.
• GE Aerospace reported quarterly earnings of $1.66 per share, exceeding expectations, while revenue rose 26.4% year-over-year to $11.31 billion.

Ethic Inc. boosted its position in GE Aerospace (NYSE:GE - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,059 shares of the company's stock after acquiring an additional 1,228 shares during the period. Ethic Inc.'s holdings in GE Aerospace were worth $13,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. raised its holdings in 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 buying an additional 59 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the first quarter valued at approximately $28,000. Nova Wealth Management Inc. bought a new stake in GE Aerospace during the first quarter worth $29,000. Wealth Preservation Advisors LLC purchased a new stake in GE Aerospace in the 1st quarter valued at $30,000. Finally, O Brien Wealth Partners LLC bought a new position in GE Aerospace during the 1st quarter valued at $33,000. 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 analyst reports. Sanford C. Bernstein raised their price target on shares of GE Aerospace from $343.00 to $374.00 and gave the company an "outperform" rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $350.00 target price on shares of GE Aerospace in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on GE Aerospace from $300.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, October 17th. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research 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 research note on Wednesday, July 23rd. 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.com, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $281.27.

GE Aerospace Stock Performance

Shares of GE opened at $306.15 on Wednesday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.53. The stock's 50-day simple moving average is $287.16 and its 200 day simple moving average is $252.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market capitalization of $324.65 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 3.26 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $11.31 billion for the quarter, compared to analysts' expectations of $10.29 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The company's revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

About GE Aerospace

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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