GE Aerospace $GE Shares Acquired by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC increased their stake in GE Aerospace by 46.5%, now owning 14,123 shares worth $3,635,000 as of the latest SEC filing.
• GE Aerospace reported $1.66 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $10.15 billion, marking a 21.2% year-over-year increase.
• The company announced a quarterly dividend of $0.36, equating to an annualized dividend of $1.44 and a yield of 0.5%, with a payout ratio of 20.08%.

Knights of Columbus Asset Advisors LLC boosted its stake in GE Aerospace (NYSE:GE - Free Report) by 46.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,123 shares of the company's stock after buying an additional 4,486 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in GE Aerospace were worth $3,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management lifted its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. Nova Wealth Management Inc. acquired a new stake in GE Aerospace in the first quarter worth about $29,000. Wealth Preservation Advisors LLC bought a new position in GE Aerospace in the 1st quarter valued at about $30,000. Finally, First Pacific Financial increased its stake in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Down 0.7%

Shares of GE Aerospace stock opened at $297.40 on Monday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The firm has a market capitalization of $315.38 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock's fifty day moving average is $280.65 and its 200-day moving average is $244.50.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Citigroup reiterated a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company upped their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Jefferies Financial Group lifted their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a research report on Saturday, September 27th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target 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.