Petredis Investment Advisors LLC Grows Position in GE Aerospace $GE

Petredis Investment Advisors LLC raised its holdings in shares of GE Aerospace (NYSE:GE) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 54,786 shares of the company’s stock after acquiring an additional 834 shares during the quarter. GE Aerospace comprises approximately 1.2% of Petredis Investment Advisors LLC’s holdings, making the stock its 17th biggest position. Petredis Investment Advisors LLC’s holdings in GE Aerospace were worth $14,101,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in GE Aerospace during the fourth quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the first quarter valued at about $28,000. Copia Wealth Management lifted its holdings in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Nova Wealth Management Inc. purchased a new stake in GE Aerospace during the first quarter valued at about $29,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the first quarter worth about $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 1.5%

Shares of NYSE GE opened at $301.62 on Friday. GE Aerospace has a one year low of $159.36 and a one year high of $303.03. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $273.62 and its two-hundred day simple moving average is $237.10. The stock has a market capitalization of $319.85 billion, a P/E ratio of 42.07, a PEG ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the business earned $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. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GE shares. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Wells Fargo & Company increased their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. 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. Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Citigroup reissued a “buy” rating and issued a $296.00 price target (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.92.

GE Aerospace 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.