Legacy Financial Group LLC Invests $238,000 in GE Aerospace $GE

Key Points

• Legacy Financial Group LLC invested approximately $238,000 in GE Aerospace during the second quarter, acquiring 924 shares of the company's stock.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding analyst expectations by $0.23 with a net revenue of $10.15 billion.
• Several analysts have updated their price targets for GE Aerospace, with Barclays raising it to $295.00 and Jefferies Financial Group to $350.00, indicating strong market confidence in the stock's performance.

Legacy Financial Group LLC bought a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 924 shares of the company's stock, valued at approximately $238,000.

A number of other large investors also recently modified their holdings of the company. Webster Bank N. A. lifted its stake in shares of GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after buying an additional 41 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in shares of GE Aerospace by 1.1% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock valued at $810,000 after buying an additional 43 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of GE Aerospace by 19.5% during the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company's stock valued at $56,000 after buying an additional 46 shares in the last quarter. First National Bank Sioux Falls lifted its stake in shares of GE Aerospace by 2.8% during the 2nd quarter. First National Bank Sioux Falls now owns 1,663 shares of the company's stock valued at $428,000 after buying an additional 46 shares in the last quarter. Finally, Sfmg LLC lifted its stake in shares of GE Aerospace by 2.4% during the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $305.50 on Wednesday. The company's 50-day moving average price is $275.21 and its 200-day moving average price is $238.60. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $305.78. 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 company has a market cap of $323.97 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business's quarterly 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, equities research analysts forecast that GE Aerospace will post 5.4 EPS 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. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GE shares. Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group lifted their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $241.92.

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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