Heritage Financial Services LLC Invests $253,000 in GE Aerospace $GE

Key Points

• Heritage Financial Services LLC has invested $253,000 in GE Aerospace, acquiring 984 shares during the 2nd quarter.
• Several analysts have upgraded their target prices for GE Aerospace, with Royal Bank Of Canada and Jefferies Financial Group raising their targets to $300.00 and $350.00, respectively.
• GE Aerospace reported a 21.2% increase in revenue year-over-year, achieving $10.15 billion for the quarter, alongside an EPS of $1.66 that exceeded analysts' expectations.

Heritage Financial Services LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 984 shares of the company's stock, valued at approximately $253,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management lifted its holdings in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace during the 1st quarter worth approximately $29,000. Wealth Preservation Advisors LLC bought a new position in GE Aerospace in the first quarter valued at approximately $30,000. Finally, First Pacific Financial increased its stake in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Jefferies Financial Group upped 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, September 22nd. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, UBS Group raised their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $241.92.

GE Aerospace Trading Up 0.2%

GE opened at $301.41 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The company's 50 day moving average price is $279.49 and its two-hundred day moving average price is $242.61. The firm has a market capitalization of $319.63 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 3.24 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping 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 company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. GE Aerospace'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 year.

GE Aerospace Announces Dividend

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

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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