4,784 Shares in GE Aerospace $GE Acquired by Sheets Smith Investment Management

Key Points

• Sheets Smith Investment Management has acquired a new stake in GE Aerospace, buying 4,784 shares valued at approximately $958,000 in the first quarter.
• Several analysts have recently downgraded their ratings on GE Aerospace, while Citigroup raised its price target to $296, indicating a generally optimistic outlook despite some recent downgrades.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 21.2%.

Sheets Smith Investment Management bought a new position in shares of GE Aerospace (NYSE:GE - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,784 shares of the company's stock, valued at approximately $958,000.

A number of other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of GE Aerospace by 76.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 305 shares of the company's stock worth $61,000 after purchasing an additional 132 shares during the period. Modern Wealth Management LLC lifted its holdings in GE Aerospace by 29.7% in the first quarter. Modern Wealth Management LLC now owns 9,535 shares of the company's stock worth $1,908,000 after buying an additional 2,184 shares during the period. Nova Wealth Management Inc. purchased a new stake in GE Aerospace in the first quarter worth about $29,000. Strs Ohio purchased a new stake in GE Aerospace in the first quarter worth about $70,018,000. Finally, Wealth Management Associates Inc. lifted its holdings in GE Aerospace by 2.3% in the first quarter. Wealth Management Associates Inc. now owns 4,857 shares of the company's stock worth $972,000 after buying an additional 110 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Up 0.0%

Shares of NYSE GE traded up $0.11 on Friday, reaching $281.67. 3,249,603 shares of the company's stock traded hands, compared to its average volume of 3,841,655. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $286.91. The business's 50 day simple moving average is $269.33 and its two-hundred day simple moving average is $233.93. The company has a market cap of $298.69 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 3.03 and a beta of 1.48. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last announced 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 net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 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.