Mechanics Bank Trust Department Has $643,000 Holdings in GE Aerospace $GE

Key Points

• Mechanics Bank Trust Department reduced its holdings in GE Aerospace by 35.9%, now owning 2,500 shares worth $643,000 after selling 1,399 shares in the second quarter.
• Multiple institutional investors have increased their stakes, with notable increases from U.S. Capital Wealth Advisors LLC by 129.4% and GAMMA Investing LLC by 8.0%.
• Analysts have raised their price targets on GE Aerospace, with Royal Bank of Canada setting a new target of $300.00, while the company reported strong earnings of $1.66 per share, exceeding estimates by $0.23.

Mechanics Bank Trust Department cut its position in shares of GE Aerospace (NYSE:GE - Free Report) by 35.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,500 shares of the company's stock after selling 1,399 shares during the period. Mechanics Bank Trust Department's holdings in GE Aerospace were worth $643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital CS Group LLC bought a new stake in GE Aerospace in the 2nd quarter valued at $368,000. Armstrong Advisory Group Inc. increased its stake in GE Aerospace by 2.4% in the second quarter. Armstrong Advisory Group Inc. now owns 3,742 shares of the company's stock valued at $963,000 after acquiring an additional 88 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in GE Aerospace by 4.6% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 1,231 shares of the company's stock worth $317,000 after purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC lifted its stake in GE Aerospace by 8.0% during the second quarter. GAMMA Investing LLC now owns 27,344 shares of the company's stock worth $7,038,000 after purchasing an additional 2,033 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in GE Aerospace by 129.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 35,483 shares of the company's stock valued at $9,133,000 after purchasing an additional 20,016 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $241.92.

GE Aerospace Stock Down 0.1%

Shares of NYSE GE opened at $300.91 on Tuesday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $303.03. The firm's 50-day simple moving average is $274.39 and its 200 day simple moving average is $238.13. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $319.09 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share 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 company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The company's revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

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.