Worth Asset Management LLC Grows Stake in GE Aerospace $GE

Key Points

• Worth Asset Management LLC significantly increased its position in GE Aerospace by 192.1% during the second quarter, acquiring an additional 4,614 shares, bringing its total holdings to 7,016 shares valued at approximately $1.8 million.
• GE Aerospace has shown strong financial performance, reporting a 21.2% increase in year-over-year quarterly revenue and exceeding earnings estimates by posting $1.66 EPS against a consensus of $1.43.
• Analysts are optimistic about GE Aerospace's future, with ten analysts assigning a Buy rating and an increased consensus target price of $232.92, following recent upgrades from various brokerages.

Worth Asset Management LLC raised its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 192.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,016 shares of the company's stock after purchasing an additional 4,614 shares during the period. GE Aerospace accounts for about 0.9% of Worth Asset Management LLC's holdings, making the stock its 24th largest holding. Worth Asset Management LLC's holdings in GE Aerospace were worth $1,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after purchasing an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. bought a new position in shares of GE Aerospace in the 1st quarter worth approximately $203,000. Sendero Wealth Management LLC raised its position in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after acquiring an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after acquiring an additional 8,245 shares in the last quarter. Finally, Global Assets Advisory LLC raised its position in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after acquiring an additional 9,580 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Down 0.1%

GE traded down $0.23 during trading on Monday, hitting $300.91. 4,191,736 shares of the company's stock traded hands, compared to its average volume of 4,173,121. The company's 50 day simple moving average is $274.39 and its two-hundred day simple moving average is $238.13. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $303.03. The stock has a market capitalization of $319.09 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 EPS 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 business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the business posted $1.20 EPS. The company's revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Analyst Ratings Changes

GE has been the subject of several research reports. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday. Jefferies Financial Group increased their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.