LeConte Wealth Management LLC Invests $273,000 in GE Aerospace $GE

Key Points

• LeConte Wealth Management LLC has invested approximately $273,000 in GE Aerospace by purchasing 1,059 shares during the second quarter.
• Several analysts have increased their price targets for GE Aerospace, with Citigroup raising it to $296.00 and UBS Group to $321.00, indicating a strong sentiment with a consensus rating of "Moderate Buy."
• GE Aerospace recently reported a quarterly earnings per share (EPS) of $1.66, surpassing analysts’ estimates, while also announcing a quarterly dividend of $0.36 per share.

LeConte Wealth Management LLC bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,059 shares of the company's stock, valued at approximately $273,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after purchasing an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Invesco Ltd. grew its stake in GE Aerospace by 0.6% during the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after acquiring an additional 54,765 shares in the last quarter. GQG Partners LLC bought a new position in GE Aerospace during the first quarter valued at $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock worth $1,536,387,000 after acquiring an additional 491,207 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GE shares. Citigroup reissued a "buy" rating and set 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 lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.92.

GE Aerospace Price Performance

GE Aerospace stock opened at $300.56 on Thursday. The business has a 50 day simple moving average of $275.89 and a 200 day simple moving average of $239.03. 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 one year low of $159.36 and a one year high of $307.25. The company has a market capitalization of $318.73 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data 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 return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm's revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed 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 is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's 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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