Legacy Private Trust Co. Boosts Stock Position in GE Aerospace $GE

Key Points

• Legacy Private Trust Co. increased its stake in GE Aerospace by 11.2%, bringing its total holdings to 28,734 shares valued at approximately $7.4 million.
• Several institutional investors have significantly increased their investments in GE Aerospace, with GQG Partners LLC acquiring a new position worth over $1.6 billion in the first quarter.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, exceeding analysts' estimates, and has set its FY 2025 guidance at 5.600-5.800 EPS.

Legacy Private Trust Co. boosted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 11.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,734 shares of the company's stock after acquiring an additional 2,901 shares during the quarter. Legacy Private Trust Co.'s holdings in GE Aerospace were worth $7,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GE. GQG Partners LLC purchased a new position in GE Aerospace in the 1st quarter valued at $1,606,840,000. GAMMA Investing LLC lifted its stake in shares of GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after acquiring an additional 5,044,632 shares during the period. Nuveen LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at about $777,075,000. Amundi increased its stake in shares of GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after acquiring an additional 1,771,944 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in GE Aerospace by 6.3% during 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 purchasing an additional 1,492,486 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GE shares. Wells Fargo & Company lifted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada raised their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $281.67 on Monday. The stock has a fifty day moving average price of $269.33 and a 200 day moving average price of $234.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $298.69 billion, a PE ratio of 39.28, a P/E/G ratio of 3.03 and a beta of 1.48. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $286.91.

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

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. The ex-dividend date was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.