Modern Wealth Management LLC Increases Stock Holdings in GE Aerospace $GE

Key Points

• Modern Wealth Management LLC increased its stake in GE Aerospace by 29.7% during the first quarter, acquiring a total of 9,535 shares valued at $1.9 million.
• GE Aerospace reported a $10.15 billion revenue for the quarter, surpassing analyst expectations, with a 21.2% year-over-year revenue growth.
• Analysts are optimistic about GE Aerospace, with multiple firms raising their price targets, including UBS increasing theirs from $300 to $321, resulting in a consensus rating of "Moderate Buy."

Modern Wealth Management LLC lifted its stake in GE Aerospace (NYSE:GE - Free Report) by 29.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,535 shares of the company's stock after buying an additional 2,184 shares during the quarter. Modern Wealth Management LLC's holdings in GE Aerospace were worth $1,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GE. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace in the 1st quarter worth approximately $29,000. Strs Ohio bought a new position in shares of GE Aerospace in the 1st quarter worth $70,018,000. Wealth Management Associates Inc. increased its position in GE Aerospace by 2.3% during the 1st quarter. Wealth Management Associates Inc. now owns 4,857 shares of the company's stock valued at $972,000 after buying an additional 110 shares in the last quarter. Intrua Financial LLC increased its position in GE Aerospace by 17.5% during the 1st quarter. Intrua Financial LLC now owns 2,173 shares of the company's stock valued at $435,000 after buying an additional 323 shares in the last quarter. Finally, Advisors Capital Management LLC increased its holdings in shares of GE Aerospace by 49.8% in the first quarter. Advisors Capital Management LLC now owns 30,521 shares of the company's stock valued at $6,109,000 after purchasing an additional 10,145 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $281.67 on Friday. 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 business has a 50 day moving average of $269.33 and a two-hundred day moving average of $233.70. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $286.91. The company has a market cap of $298.69 billion, a P/E ratio of 39.28, a PEG ratio of 3.03 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 EPS for the quarter, topping the consensus estimate 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 in the previous year, the company earned $1.20 earnings per share. The firm's quarterly 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. As a group, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid 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 of this dividend was Monday, July 7th. GE Aerospace's dividend payout ratio is 20.08%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GE shares. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada lifted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and a consensus price target of $232.92.

About GE Aerospace

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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