Hillcrest Wealth Advisors NY LLC Sells 3,100 Shares of GE Aerospace $GE

Key Points

• Hillcrest Wealth Advisors NY LLC has sold 3,100 shares of GE Aerospace, reducing its stake by 30.5%, now holding 7,071 shares valued at approximately $1,820,000.
• GE Aerospace reported a net margin of 18.64% and a 21.2% year-over-year revenue increase to $10.15 billion, exceeding analysts' expectations.
• The company has announced a quarterly dividend of $0.36 per share, with an annualized yield of 0.5%, set to be paid on October 27th.

Hillcrest Wealth Advisors NY LLC reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 30.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,071 shares of the company's stock after selling 3,100 shares during the period. GE Aerospace accounts for 0.9% of Hillcrest Wealth Advisors NY LLC's holdings, making the stock its 21st biggest holding. Hillcrest Wealth Advisors NY LLC's holdings in GE Aerospace were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Old North State Wealth Management LLC grew its stake in GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock worth $542,000 after acquiring an additional 39 shares in the last quarter. Webster Bank N. A. grew its stake in GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC grew its stake in GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after acquiring an additional 41 shares in the last quarter. Ascent Capital Management LLC grew its stake in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after acquiring an additional 42 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its stake in GE Aerospace by 1.1% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after acquiring an additional 43 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Trading Down 0.7%

NYSE:GE opened at $297.40 on Monday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The firm has a 50 day moving average of $280.65 and a 200 day moving average of $244.50. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $315.38 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results 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 company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. GE Aerospace's revenue for the quarter 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, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share 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. Investors of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GE shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group upped their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Zacks Research cut shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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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