Longboard Asset Management LP Purchases New Holdings in GE Aerospace $GE

Key Points

• Longboard Asset Management LP has acquired a new position in GE Aerospace, purchasing 887 shares valued at approximately $228,000 during the second quarter.
• GE Aerospace reported a significant 21.2% year-over-year revenue growth, with a quarterly revenue of $10.15 billion and earnings per share of $1.66, exceeding analysts' estimates.
• Several analysts have upgraded their ratings for GE Aerospace, with Royal Bank of Canada and UBS Group setting price targets as high as $321.00, reflecting strong market confidence.

Longboard Asset Management LP purchased a new stake in GE Aerospace (NYSE:GE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 887 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds have also made changes to their positions in GE. Webster Bank N. A. lifted its stake in 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 acquiring an additional 41 shares during the period. Nicholas Hoffman & Company LLC. grew its holdings in 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 increased its position in GE Aerospace by 19.5% in the first quarter. Truvestments Capital LLC now owns 282 shares of the company's stock worth $56,000 after purchasing an additional 46 shares during the last quarter. First National Bank Sioux Falls boosted its stake in shares of GE Aerospace by 2.8% during the second quarter. First National Bank Sioux Falls now owns 1,663 shares of the company's stock valued at $428,000 after purchasing an additional 46 shares during the period. Finally, Sfmg LLC raised its holdings in shares of GE Aerospace by 2.4% in the first quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE:GE traded up $4.53 during mid-day trading on Friday, hitting $301.62. The stock had a trading volume of 9,629,752 shares, compared to its average volume of 3,951,953. The stock has a market cap of $319.85 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 3.24 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $303.03. The company's 50 day simple moving average is $273.62 and its 200 day simple moving average is $237.10.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. 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 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio is currently 20.08%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GE shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Royal Bank Of Canada increased their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. UBS Group raised their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday. Ten research 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, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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.