GE Aerospace $GE Shares Acquired by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund Inc. increased its stake in GE Aerospace by 32.7% in Q2, holding 160,700 shares valued at approximately $41.36 million, making it the fund's 14th largest position.
• GE Aerospace's shares are performing well, with analysts giving a consensus target price of $281.27, and several firms have revised price objectives upwards, reflecting strong market sentiment.
• The company reported $1.66 earnings per share for the last quarter, beating estimates and signaling robust revenue growth of 26.4% year-over-year.

Adams Diversified Equity Fund Inc. increased its position in GE Aerospace (NYSE:GE - Free Report) by 32.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,700 shares of the company's stock after buying an additional 39,600 shares during the quarter. GE Aerospace comprises approximately 1.5% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 14th largest position. Adams Diversified Equity Fund Inc.'s holdings in GE Aerospace were worth $41,363,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Old North State Wealth Management LLC lifted its holdings in shares of GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after buying an additional 39 shares during the period. Stephens Consulting LLC lifted its stake in GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after acquiring an additional 39 shares in the last quarter. Webster Bank N. A. lifted its stake in GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC lifted its stake in GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC lifted its stake in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GE shares. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Wolfe Research increased their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. TD Cowen increased their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $281.27.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $306.47 on Wednesday. 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 firm has a market cap of $324.99 billion, a price-to-earnings ratio of 42.74, a P/E/G ratio of 3.26 and a beta of 1.49. The business's 50-day simple moving average is $287.16 and its 200-day simple moving average is $252.55. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53.

GE Aerospace (NYSE:GE - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The firm's revenue for the quarter was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts expect 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 dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

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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