Wedmont Private Capital Boosts Position in GE Aerospace $GE

Key Points

• Wedmont Private Capital increased its stake in GE Aerospace by 14% in Q2, now owning 19,649 shares worth approximately $4.92 million.
• Several brokerages raised their price targets for GE Aerospace, with Wells Fargo increasing its target from $34 to $38, and Citigroup adjusting theirs from $227 to $296, reflecting strong analyst confidence in the stock.
• GE Aerospace reported $10.15 billion in revenue for the last quarter, exceeding analyst expectations, with an 18.64% net margin and a return on equity of 31.32%.

Wedmont Private Capital raised its stake in GE Aerospace (NYSE:GE - Free Report) by 14.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,649 shares of the company's stock after acquiring an additional 2,415 shares during the quarter. Wedmont Private Capital's holdings in GE Aerospace were worth $4,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the first quarter valued at about $28,000. Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace during the 1st quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in GE Aerospace during the 1st quarter worth approximately $33,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of NYSE:GE traded up $4.53 during midday trading on Friday, reaching $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 company has a market cap of $319.85 billion, a P/E ratio of 42.07, a PEG ratio of 3.24 and a beta of 1.48. 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 company has a fifty day simple moving average of $273.62 and a two-hundred day simple moving average of $237.10.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for 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 was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GE shares. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday. Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

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.