Lockheed Martin Investment Management Co. Buys Shares of 1,500 GE Vernova Inc. (NYSE:GEV)

Key Points

• Lockheed Martin Investment Management Co. purchased 1,500 shares of GE Vernova Inc. (NYSE:GEV), worth approximately $458,000, in the first quarter.
• Several major hedge funds increased their holdings in GE Vernova, with Vanguard Group owning over $7.4 billion worth of shares, demonstrating significant investor interest in the company.
• Analysts have raised their target prices for GEV, with estimates reaching as high as $715.00, while the stock has a current average rating of “Moderate Buy.”

Lockheed Martin Investment Management Co. bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,500 shares of the company's stock, valued at approximately $458,000.

Several other hedge funds have also recently bought and sold shares of GEV. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Capital International Investors grew its holdings in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the last quarter. Northern Trust Corp grew its holdings in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after purchasing an additional 343,837 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on GEV shares. Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. TD Cowen lifted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Up 0.5%

NYSE:GEV opened at $648.94 on Friday. The company has a fifty day moving average of $548.53 and a 200-day moving average of $424.54. The firm has a market capitalization of $176.65 billion, a P/E ratio of 156.37, a P/E/G ratio of 4.49 and a beta of 1.90. GE Vernova Inc. has a twelve month low of $172.60 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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