Mitchell Sinkler & Starr PA Has $700,000 Stock Holdings in GE Aerospace $GE

Key Points

• Mitchell Sinkler & Starr PA reduced its GE Aerospace stake by 77.6% in Q2, now holding shares worth $700,000 after selling 9,415 shares.
• GE Aerospace reported earnings per share of $1.66 in the latest quarter, exceeding analyst estimates, with revenue reaching $10.15 billion.
• A quarterly dividend of $0.36 per share will be paid on October 27th, reflecting a 0.5% yield and a dividend payout ratio of 20.08%.

Mitchell Sinkler & Starr PA cut its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 77.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,720 shares of the company's stock after selling 9,415 shares during the period. Mitchell Sinkler & Starr PA's holdings in GE Aerospace were worth $700,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GE. GQG Partners LLC acquired a new position in GE Aerospace during the first quarter valued at approximately $1,606,840,000. Nuveen LLC acquired a new position in GE Aerospace during the first quarter valued at approximately $777,075,000. Amundi boosted its position in GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after purchasing an additional 1,771,944 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in GE Aerospace by 7,406.4% during the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company's stock valued at $242,624,000 after purchasing an additional 1,196,060 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of NYSE GE opened at $291.96 on Friday. The firm 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 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 business's 50 day moving average is $283.44 and its 200-day moving average is $247.38.

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. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. 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 20.08%.

Analyst Ratings Changes

A number of analysts have recently issued reports on GE shares. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Jefferies Financial Group raised their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $251.31.

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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