Vest Financial LLC Buys 49,758 Shares of GE Aerospace $GE

Key Points

• Vest Financial LLC increased its stake in GE Aerospace by 79% in Q2, acquiring an additional 49,758 shares, which brought its total holdings to 112,750 shares worth approximately $29 million.
• Several analysts have raised their price targets for GE Aerospace, with Wells Fargo increasing its target from $34 to $38 and Jefferies raising it from $320 to $350, indicating strong buy sentiments.
• GE Aerospace reported a Q2 EPS of $1.66, exceeding estimates by $0.23, and recorded a revenue of $10.15 billion, up 21.2% year-over-year, projecting a FY 2025 EPS guidance of 5.600-5.800.

Vest Financial LLC boosted its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 79.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,750 shares of the company's stock after purchasing an additional 49,758 shares during the quarter. Vest Financial LLC's holdings in GE Aerospace were worth $29,021,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Old North State Wealth Management LLC raised its stake in shares of GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after purchasing an additional 39 shares in the last quarter. Stephens Consulting LLC raised its stake in GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company's stock worth $66,000 after acquiring an additional 39 shares in the last quarter. Webster Bank N. A. raised its stake in 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 in the last quarter. Pacific Sage Partners LLC raised its stake in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC raised its stake in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after acquiring an additional 42 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Jefferies Financial Group increased their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday. Citigroup reiterated 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, UBS Group increased 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. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $264.50.

GE Aerospace Price Performance

Shares of GE stock opened at $291.96 on Monday. The stock's fifty day moving average is $283.44 and its 200-day moving average is $247.67. 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 stock has a market capitalization of $309.61 billion, a PE ratio of 40.72, a PEG ratio of 3.14 and a beta of 1.49. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities research analysts expect 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 will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued 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 dividend payout ratio (DPR) is currently 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.

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