McNamara Financial Services Inc. Takes $866,000 Position in GE Aerospace $GE

Key Points

• McNamara Financial Services Inc. acquired a new stake in GE Aerospace worth approximately $866,000, buying 3,364 shares in the second quarter.
• GE Aerospace reported $1.66 earnings per share for the last quarter, outperforming analysts' expectations of $1.43, with a revenue of $10.15 billion.
• The company announced a quarterly dividend of $0.36 per share, representing a 0.5% dividend yield to be paid to shareholders on October 27th.

McNamara Financial Services Inc. bought a new stake in GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,364 shares of the company's stock, valued at approximately $866,000.

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

GE Aerospace Price Performance

Shares of GE opened at $291.96 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The stock has a market cap of $309.61 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The stock's 50-day moving average price is $283.44 and its two-hundred day moving average price is $247.67.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the business earned $1.20 earnings per share. The company's revenue 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. On average, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $264.50.

GE Aerospace 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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