US Bancorp DE Sells 5,266 Shares of GE Aerospace $GE

Key Points

• US Bancorp DE reduced its stake in GE Aerospace by 1.7%, selling 5,266 shares, and now holds 298,406 shares valued at $76.8 million.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding estimates and showing a year-over-year revenue increase of 21.2% to $10.15 billion.
• The company declared a quarterly dividend of $0.36 per share, which is set to be paid out on October 27, resulting in an annualized yield of 0.5% for shareholders.

US Bancorp DE reduced its position in GE Aerospace (NYSE:GE - Free Report) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 298,406 shares of the company's stock after selling 5,266 shares during the period. US Bancorp DE's holdings in GE Aerospace were worth $76,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Ameriflex Group Inc. grew its holdings in GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company's stock valued at $437,000 after buying an additional 331 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock worth $1,647,000 after purchasing an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of GE Aerospace during the first quarter worth about $203,000. Concurrent Investment Advisors LLC grew its holdings in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Finally, Global Assets Advisory LLC grew its holdings in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

Shares of GE stock opened at $299.18 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The stock has a 50 day moving average price of $282.99 and a two-hundred day moving average price of $246.55. The company has a market capitalization of $317.26 billion, a P/E ratio of 41.73, a PEG ratio of 3.25 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business'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. Analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on GE. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $350.00 price objective on shares of GE Aerospace in a report on Wednesday. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Zacks Research lowered GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, GE Aerospace currently has an average rating of "Moderate Buy" and an average price target of $251.31.

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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