Procyon Advisors LLC Has $445,000 Stock Holdings in GE Aerospace $GE

Key Points

• Procyon Advisors LLC reduced its holdings in GE Aerospace by 42.2% during Q2, now owning 1,729 shares valued at $445,000.
• Analysts have raised their price targets for GE Aerospace, with Royal Bank of Canada increasing its target from $275 to $300 and Citigroup from $227 to $296, reflecting strong growth expectations.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding analysts' estimates by $0.23, with a revenue of $10.15 billion for the quarter.

Procyon Advisors LLC lessened its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 42.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,729 shares of the company's stock after selling 1,263 shares during the period. Procyon Advisors LLC's holdings in GE Aerospace were worth $445,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday. Jefferies Financial Group increased their price target on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Monday. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Trading Down 0.1%

NYSE GE traded down $0.23 on Monday, reaching $300.91. The company had a trading volume of 4,191,736 shares, compared to its average volume of 4,173,121. The firm has a market cap of $319.09 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 3.24 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $303.03. The business has a 50 day moving average of $274.39 and a two-hundred day moving average of $238.13.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm 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 business's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. 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 declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

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.