Rockland Trust Co. Cuts Stock Holdings in GE Aerospace $GE

Key Points

• Rockland Trust Co. reduced its stake in GE Aerospace by 3.5% in the second quarter, now holding 39,242 shares valued at approximately $10.1 million.
• Several other institutional investors have increased their holdings, with Two Sigma Advisers LP raising its stake by 45.5%, indicating strong interest in GE Aerospace among large investment firms.
• GE Aerospace reported $1.66 earnings per share for the last quarter, exceeding analyst expectations and reflecting a 21.2% revenue increase year-over-year.

Rockland Trust Co. decreased its stake in GE Aerospace (NYSE:GE - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,242 shares of the company's stock after selling 1,432 shares during the quarter. Rockland Trust Co.'s holdings in GE Aerospace were worth $10,100,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. raised its position in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after acquiring an additional 41 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in GE Aerospace by 1.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after buying an additional 43 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of GE Aerospace by 19.5% in the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company's stock valued at $56,000 after acquiring an additional 46 shares during the last quarter. First National Bank Sioux Falls raised its position in shares of GE Aerospace by 2.8% in the 2nd quarter. First National Bank Sioux Falls now owns 1,663 shares of the company's stock valued at $428,000 after acquiring an additional 46 shares during the period. Finally, Sfmg LLC raised its position in shares of GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after acquiring an additional 48 shares during the period. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $4.53 during trading hours on Friday, reaching $301.62. 9,629,752 shares of the stock were exchanged, compared to its average volume of 3,951,953. The stock's fifty day simple moving average is $273.62 and its 200 day simple moving average is $236.86. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $303.03. 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 firm has a market capitalization of $319.85 billion, a price-to-earnings ratio of 42.07, a P/E/G ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $9.49 billion. During the same quarter last year, the company earned $1.20 EPS. The company'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. Sell-side analysts predict 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 will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a $0.36 dividend. 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 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.