Sterling Investment Management LLC Acquires 4,791 Shares of GE Aerospace $GE

Key Points

• Sterling Investment Management LLC increased its holdings in GE Aerospace by 37.8%, acquiring an additional 4,791 shares in the second quarter, making GE Aerospace 3.0% of its portfolio.
• GE Aerospace reported $1.66 earnings per share for the latest quarter, exceeding analysts' expectations of $1.46, with revenues reaching $11.31 billion.
• The company declared a quarterly dividend of $0.36, representing a 0.5% yield, to be paid on October 27th to investors of record from September 29th.

Sterling Investment Management LLC lifted its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 37.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,456 shares of the company's stock after purchasing an additional 4,791 shares during the period. GE Aerospace accounts for about 3.0% of Sterling Investment Management LLC's portfolio, making the stock its 11th largest position. Sterling Investment Management LLC's holdings in GE Aerospace were worth $4,493,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace during the first quarter worth $28,000. Nova Wealth Management Inc. bought a new position in GE Aerospace in the first quarter valued at about $29,000. IMG Wealth Management Inc. boosted its holdings in GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company's stock valued at $29,000 after acquiring an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in GE Aerospace in the first quarter valued at about $30,000. Finally, First Pacific Financial boosted its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Trading Up 1.3%

Shares of NYSE:GE opened at $306.47 on Wednesday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.53. The stock has a market cap of $324.99 billion, a PE ratio of 42.74, a P/E/G ratio of 3.26 and a beta of 1.49. The business has a 50 day moving average of $287.16 and a 200-day moving average of $252.55. 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 issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.20. The company had revenue of $11.31 billion during the quarter, compared to analysts' expectations of $10.29 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business's revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's payout ratio is 20.08%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price target on GE Aerospace from $343.00 to $374.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 15th. UBS Group raised their price target on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $281.27.

About GE Aerospace

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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