Sky Investment Group LLC Invests $237,000 in GE Aerospace $GE

Key Points

• Sky Investment Group LLC purchased 920 shares of GE Aerospace for approximately $237,000 in the second quarter, highlighting continued institutional interest in the stock.
• GE Aerospace has received multiple analyst upgrades, with Barclays raising their price target from $230.00 to $295.00 and a consensus rating of "Moderate Buy" among analysts.
• The company reported a 21.2% year-over-year revenue increase to $10.15 billion in its recent earnings, surpassing consensus estimates significantly.

Sky Investment Group LLC purchased a new stake in shares of GE Aerospace (NYSE:GE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 920 shares of the company's stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Brighton Jones LLC increased its holdings in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after purchasing an additional 150 shares during the last quarter. State of Wyoming increased its holdings in shares of GE Aerospace by 28.3% in the fourth quarter. State of Wyoming now owns 721 shares of the company's stock worth $120,000 after purchasing an additional 159 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of GE Aerospace by 45.5% in the fourth quarter. Two Sigma Advisers LP now owns 111,013 shares of the company's stock worth $18,516,000 after purchasing an additional 34,700 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of GE Aerospace in the fourth quarter worth about $8,990,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Citigroup reissued a "buy" rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Royal Bank Of Canada boosted their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Up 1.5%

Shares of GE traded up $4.53 during midday trading on Friday, hitting $301.62. 9,629,752 shares of the company's stock traded hands, compared to its average volume of 3,951,953. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $303.03. The firm's fifty day moving average is $273.62 and its 200-day moving average is $237.10. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $319.85 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion during 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 for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side 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 given a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 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.