Washington Growth Strategies LLC Purchases Shares of 1,191 GE Aerospace $GE

Key Points

• Washington Growth Strategies LLC has acquired a total of 1,191 shares of GE Aerospace, valued at approximately $307,000, during the second quarter.
• GE Aerospace reported a 21.2% year-over-year increase in revenue, totaling $10.15 billion, while exceeding EPS expectations by $0.23.
• The company's recently announced quarterly dividend is $0.36 per share, representing a 0.5% annual yield, with a payout ratio of 20.08%.

Washington Growth Strategies LLC purchased a new stake in GE Aerospace (NYSE:GE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,191 shares of the company's stock, valued at approximately $307,000.

A number of other large investors also recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. lifted its holdings in GE Aerospace by 3.5% in the second quarter. Stock Yards Bank & Trust Co. now owns 12,037 shares of the company's stock valued at $3,098,000 after acquiring an additional 412 shares during the period. Montz Harcus Wealth Management LLC acquired a new position in GE Aerospace in the second quarter valued at approximately $215,000. Consilium Wealth Advisory LLC lifted its holdings in GE Aerospace by 4.2% in the second quarter. Consilium Wealth Advisory LLC now owns 11,500 shares of the company's stock valued at $2,960,000 after acquiring an additional 467 shares during the period. Clarity Capital Partners LLC lifted its holdings in GE Aerospace by 3.2% in the second quarter. Clarity Capital Partners LLC now owns 1,773 shares of the company's stock valued at $456,000 after acquiring an additional 55 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in GE Aerospace by 5.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,151 shares of the company's stock valued at $3,900,000 after acquiring an additional 751 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Stock Down 0.7%

Shares of GE opened at $297.40 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 one year low of $159.36 and a one year high of $307.25. The stock has a market capitalization of $315.38 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 3.22 and a beta of 1.49. The stock has a 50 day moving average price of $280.65 and a 200 day moving average price of $243.95.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly 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. 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 analysts' expectations of $9.49 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

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 given a dividend of $0.36 per share. 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 presently 20.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a report on Saturday, September 27th. Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and a consensus target price of $241.92.

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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