GE Aerospace $GE Shares Purchased by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its holdings in GE Aerospace by 138.1% in Q2, owning 6,596 shares worth approximately $1.7 million as of the latest SEC filing.
• GE Aerospace reported a 21.2% increase in revenue year-over-year for Q2, totaling $10.15 billion, and earnings per share of $1.66, exceeding estimates.
• The company declared a quarterly dividend of $0.36, set to be paid on October 27th, representing a 0.5% dividend yield.

Simplicity Wealth LLC raised its holdings in GE Aerospace (NYSE:GE - Free Report) by 138.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,596 shares of the company's stock after purchasing an additional 3,826 shares during the period. Simplicity Wealth LLC's holdings in GE Aerospace were worth $1,698,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management grew its position 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 worth $29,000 after acquiring an additional 142 shares in the last quarter. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $29,000. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace during the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Down 0.7%

Shares of NYSE:GE opened at $297.40 on Monday. 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 company's 50-day moving average price is $280.65 and its 200 day moving average price is $244.50. The company has a market cap of $315.38 billion, a PE ratio of 41.48, a P/E/G ratio of 3.20 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for 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%. GE Aerospace's revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Zacks Research lowered shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a research note on Saturday, September 27th. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group upped their target price on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $241.92.

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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