Hartford Investment Management Co. Reduces Stock Position in GE Aerospace $GE

Key Points

• Hartford Investment Management Co. decreased its stake in GE Aerospace by 1.7%, now holding 64,360 shares valued at approximately $16.57 million, making it the firm's 29th largest position.
• GE Aerospace's stock performance is robust, with analysts raising price targets; Barclays increased theirs to $295, while Jefferies set a target of $350.
• The company reported a quarterly earnings per share of $1.66, exceeding expectations, and has set a fiscal year 2025 EPS guidance of 5.600-5.800.

Hartford Investment Management Co. cut its holdings in GE Aerospace (NYSE:GE - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,360 shares of the company's stock after selling 1,139 shares during the period. GE Aerospace accounts for 0.5% of Hartford Investment Management Co.'s investment portfolio, making the stock its 29th biggest position. Hartford Investment Management Co.'s holdings in GE Aerospace were worth $16,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC grew its position in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the period. Centaurus Financial Inc. boosted its stake in GE Aerospace by 24.1% in the 4th quarter. Centaurus Financial Inc. now owns 10,836 shares of the company's stock worth $1,807,000 after purchasing an additional 2,102 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in GE Aerospace by 12.6% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,352 shares of the company's stock valued at $392,000 after buying an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of GE Aerospace by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,132 shares of the company's stock valued at $1,027,000 after buying an additional 935 shares during the period. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of analyst reports. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Jefferies Financial Group increased their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, 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. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Stock Performance

NYSE GE opened at $297.12 on Friday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a fifty day moving average of $276.63 and a 200-day moving average of $239.75. The company has a market capitalization of $315.08 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.23 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 yield of 0.5%. 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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