Gries Financial LLC Boosts Stock Position in GE Aerospace $GE

Key Points

• Gries Financial LLC increased its stock position in GE Aerospace by 54.7% during the second quarter, owning 2,773 shares valued at approximately $714,000.
• Analysts have raised their target prices for GE Aerospace, with Royal Bank of Canada setting it at $300.00, while Citigroup increased theirs to $296.00, reflecting a strong consensus of "Moderate Buy."
• GE Aerospace reported earnings of $1.66 EPS for the last quarter, surpassing estimates, with revenue of $10.15 billion, marking a 21.2% increase year-over-year.

Gries Financial LLC boosted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 54.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,773 shares of the company's stock after acquiring an additional 981 shares during the quarter. Gries Financial LLC's holdings in GE Aerospace were worth $714,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GE. Putney Financial Group LLC purchased a new position in GE Aerospace during the 4th quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the 1st quarter valued at $28,000. Copia Wealth Management boosted its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the period. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the 1st quarter valued at $29,000. Finally, Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Finally, Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

GE Aerospace Trading Down 0.1%

GE opened at $300.91 on Tuesday. The firm has a market cap of $319.09 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 3.24 and a beta of 1.48. 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 $303.03. The stock has a fifty day moving average price of $274.39 and a 200-day moving average price of $238.13.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share 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 given a dividend of $0.36 per share. 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 currently 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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