Patton Fund Management Inc. Purchases Shares of 1,109 GE Aerospace $GE

Key Points

• Patton Fund Management Inc. acquired a new stake of 1,109 shares in GE Aerospace, valued at approximately $285,000, in the second quarter.
• GE Aerospace reported $1.66 earnings per share for the latest quarter, exceeding the consensus estimate of $1.43, with revenues of $10.15 billion compared to expectations of $9.49 billion.
• The company announced a quarterly dividend of $0.36 per share, with a 0.5% yield, to be paid on October 27th to shareholders of record as of September 29th.

Patton Fund Management Inc. purchased a new stake in GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,109 shares of the company's stock, valued at approximately $285,000.

A number of other large investors have also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the first quarter valued at $28,000. Copia Wealth Management lifted its stake in 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 acquiring an additional 142 shares during the last quarter. Nova Wealth Management Inc. acquired a new stake in GE Aerospace in the first quarter valued at $29,000. Wealth Preservation Advisors LLC acquired a new stake in shares of GE Aerospace during the 1st quarter worth about $30,000. Finally, First Pacific Financial lifted its stake in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $294.97 on Friday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. 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 50-day simple moving average of $277.26 and a two-hundred day simple moving average of $240.46. The stock has a market capitalization of $312.80 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 3.20 and a beta of 1.48.

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

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Jefferies Financial Group raised their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $241.92.

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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