Petredis Investment Advisors LLC Has $14.10 Million Holdings in GE Aerospace $GE

Key Points

• Petredis Investment Advisors LLC increased its holdings in GE Aerospace by 1.5%, owning 54,786 shares valued at approximately $14.10 million, making it the firm's 17th largest position.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding estimates and showcasing a 21.2% year-over-year revenue increase.
• Recent analyst reports have led to price target increases for GE Aerospace, with Royal Bank of Canada raising theirs from $275.00 to $300.00 and UBS Group from $300.00 to $321.00, reflecting strong market confidence in the stock.

Petredis Investment Advisors LLC raised its position in shares of GE Aerospace (NYSE:GE - Free Report) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,786 shares of the company's stock after acquiring an additional 834 shares during the quarter. GE Aerospace makes up about 1.2% of Petredis Investment Advisors LLC's holdings, making the stock its 17th largest holding. Petredis Investment Advisors LLC's holdings in GE Aerospace were worth $14,101,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace during the fourth quarter worth about $28,000. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management boosted its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter worth approximately $29,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace during the 1st quarter worth approximately $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GE. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group increased their price target on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Stock Up 1.4%

GE Aerospace stock traded up $4.12 during mid-day trading on Tuesday, reaching $305.14. The company's stock had a trading volume of 2,166,420 shares, compared to its average volume of 5,802,620. The company has a market capitalization of $323.58 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $305.78. The business's 50 day simple moving average is $274.39 and its 200 day simple moving average is $238.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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, beating 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 for the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the prior year, the firm earned $1.20 EPS. GE Aerospace'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, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

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.