Mainstay Capital Management LLC ADV Takes $318,000 Position in GE Aerospace $GE

Key Points

• Mainstay Capital Management LLC ADV acquired a new stake in GE Aerospace worth approximately $318,000, purchasing 1,234 shares in the second quarter.
• Analyst updates for GE Aerospace show increased target prices, with Barclays setting a new target price of $295.00 and UBS Group raising theirs to $321.00, all maintaining positive ratings.
• GE Aerospace has announced a quarterly dividend of $0.36, scheduled for payment on October 27th, marking an annualized dividend yield of 0.5%.

Mainstay Capital Management LLC ADV acquired a new stake in GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,234 shares of the company's stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $28,000. Copia Wealth Management raised its holdings in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $30,000. Finally, First Pacific Financial raised its holdings in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group boosted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $350.00 target price on shares of GE Aerospace in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and a consensus price target of $251.31.

GE Aerospace Trading Down 1.1%

GE stock opened at $299.18 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a fifty day moving average price of $282.99 and a two-hundred day moving average price of $246.55. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The stock has a market cap of $317.26 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 3.25 and a beta of 1.49.

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, 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 during the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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 given a $0.36 dividend. 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 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.

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