GE Aerospace $GE Shares Sold by Synergy Asset Management LLC

Key Points

• Synergy Asset Management LLC reduced its stake in GE Aerospace by 24.4%, selling 6,162 shares and leaving it with 19,103 shares valued at approximately $4.9 million.
• GE Aerospace reported a net margin of 18.64% and a 21.2% increase in revenue year-over-year, with quarterly earnings per share of $1.66.
• The company announced a quarterly dividend of $0.36 per share, reflecting an annualized yield of 0.5%, to be paid to shareholders of record.

Synergy Asset Management LLC decreased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 24.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,103 shares of the company's stock after selling 6,162 shares during the period. Synergy Asset Management LLC's holdings in GE Aerospace were worth $4,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Old North State Wealth Management LLC grew its stake in GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock worth $542,000 after buying an additional 39 shares during the period. Webster Bank N. A. grew its stake in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after buying an additional 41 shares during the period. Pacific Sage Partners LLC grew its stake in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after buying an additional 41 shares during the period. Ascent Capital Management LLC grew its stake in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after buying an additional 42 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its stake in GE Aerospace by 1.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Trading Down 0.4%

NYSE GE opened at $299.54 on Friday. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $307.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market capitalization of $317.64 billion, a price-to-earnings ratio of 41.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49. The company's fifty day moving average price is $280.12 and its two-hundred day moving average price is $243.28.

GE Aerospace (NYSE:GE - Get Free Report) last posted 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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm posted $1.20 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GE. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Citigroup restated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Barclays upped their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their target price 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. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock 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.

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