GC Wealth Management RIA LLC Raises Stock Holdings in GE Aerospace $GE

Key Points

• GC Wealth Management RIA LLC increased its holdings in GE Aerospace by 344.4%, owning 7,483 shares worth approximately $1.93 million following the acquisition of additional shares in the second quarter.
• GE Aerospace recently reported earnings per share (EPS) of $1.66, surpassing analyst estimates of $1.43, with revenue reaching $10.15 billion for the quarter.
• The company announced a quarterly dividend of $0.36 per share, scheduled for payment on October 27th, representing an annualized dividend of 0.5%.

GC Wealth Management RIA LLC boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 344.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,483 shares of the company's stock after acquiring an additional 5,799 shares during the quarter. GC Wealth Management RIA LLC's holdings in GE Aerospace were worth $1,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. GQG Partners LLC purchased a new stake in shares of GE Aerospace during the first quarter valued at $1,606,840,000. Nuveen LLC bought a new stake in GE Aerospace during the 1st quarter valued at about $777,075,000. Amundi boosted its position in GE Aerospace by 124.0% in the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after buying an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD boosted its position in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after buying an additional 1,492,486 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in GE Aerospace by 7,406.4% in the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company's stock worth $242,624,000 after acquiring an additional 1,196,060 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE stock opened at $293.57 on Tuesday. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The stock's 50-day moving average is $277.88 and its 200 day moving average is $241.79. The company has a market cap of $311.31 billion, a P/E ratio of 40.94, a PEG ratio of 3.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during 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 firm's revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a dividend of $0.36 per share. 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 dividend payout ratio is presently 20.08%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup restated a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.