Petros Family Wealth LLC Takes $541,000 Position in GE Aerospace $GE

Petros Family Wealth LLC purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,100 shares of the company's stock, valued at approximately $541,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Old North State Wealth Management LLC lifted its position in shares of GE Aerospace by 1.9% during the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after acquiring an additional 39 shares during the period. Webster Bank N. A. raised its position in shares of GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after purchasing an additional 41 shares during the last quarter. Pacific Sage Partners LLC raised its position in shares of GE Aerospace by 3.5% during the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after purchasing an additional 41 shares during the last quarter. Ascent Capital Management LLC raised its position in shares of GE Aerospace by 1.9% during the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after purchasing an additional 42 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its position in shares of GE Aerospace by 1.1% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after purchasing an additional 43 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. Jefferies Financial Group lifted their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Wall Street Zen downgraded GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Trading Down 0.7%

Shares of GE opened at $297.40 on Monday. The stock has a fifty day moving average of $280.65 and a two-hundred day moving average of $244.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market capitalization of $315.38 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is presently 20.08%.

GE Aerospace 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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