GE Aerospace $GE Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in GE Aerospace by 12.3%, selling 118,441 shares and leaving them with 841,247 shares valued at approximately $216.53 million.
• Several analysts have increased their price targets for GE Aerospace, with new targets ranging from $295.00 to $350.00, reflecting a consensus rating of "Moderate Buy".
• GE Aerospace recently announced a quarterly dividend of $0.36 per share, yielding 0.5%, with a payout ratio of 20.08%.

TD Asset Management Inc cut its holdings in GE Aerospace (NYSE:GE - Free Report) by 12.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 841,247 shares of the company's stock after selling 118,441 shares during the period. TD Asset Management Inc owned 0.08% of GE Aerospace worth $216,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the first quarter worth $28,000. Copia Wealth Management lifted its stake in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. acquired a new position in GE Aerospace during the first quarter worth $29,000. Wealth Preservation Advisors LLC acquired a new position in GE Aerospace during the first quarter worth $30,000. Finally, O Brien Wealth Partners LLC acquired a new position in GE Aerospace during the first quarter worth $33,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Jefferies Financial Group upped their price target on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Barclays upped their price target 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, TD Cowen increased their price objective on GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $267.13.

GE Aerospace Stock Up 2.1%

Shares of NYSE GE opened at $297.47 on Tuesday. The stock has a market cap of $315.45 billion, a P/E ratio of 41.49, a PEG ratio of 3.14 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The business's fifty day simple moving average is $283.87 and its 200-day simple moving average is $248.35.

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

GE Aerospace Announces Dividend

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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio is 20.08%.

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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