Fulton Bank N.A. Acquires 1,607 Shares of GE Aerospace $GE

Key Points

• Fulton Bank N.A. increased its position in GE Aerospace by 18.6%, acquiring a total of 10,237 shares worth approximately $2.64 million.
• Analysts are optimistic about GE Aerospace, with multiple firms, including Citigroup and UBS Group, raising their price targets and maintaining "buy" ratings, reflecting a consensus rating of "Moderate Buy."
• In its latest quarterly earnings, GE Aerospace reported $1.66 EPS, exceeding expectations and showing a 21.2% year-over-year revenue increase.

Fulton Bank N.A. lifted its holdings in GE Aerospace (NYSE:GE - Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,237 shares of the company's stock after purchasing an additional 1,607 shares during the period. Fulton Bank N.A.'s holdings in GE Aerospace were worth $2,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GE. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at $28,000. Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at $29,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of GE Aerospace in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GE. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Citigroup reissued a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group boosted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of GE traded up $7.77 during trading hours on Thursday, reaching $297.27. 3,976,781 shares of the company traded hands, compared to its average volume of 3,916,378. The stock's fifty day moving average is $272.70 and its 200 day moving average is $236.15. The stock has a market cap of $315.23 billion, a P/E ratio of 41.46, a price-to-earnings-growth ratio of 3.11 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $297.65.

GE Aerospace (NYSE:GE - Get Free Report) last announced 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 during 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 firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend 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.