EdgeRock Capital LLC Purchases Shares of 841 GE Aerospace $GE

EdgeRock Capital LLC acquired a new position in GE Aerospace (NYSE:GE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 841 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its stake in shares of GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after buying an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. bought a new position in GE Aerospace during the 1st quarter worth approximately $203,000. Sendero Wealth Management LLC grew its position in GE Aerospace by 526.6% during 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 during the last quarter. Concurrent Investment Advisors LLC increased its stake in 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 purchasing an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC lifted its position in GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock valued at $2,751,000 after purchasing an additional 9,580 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Citigroup reaffirmed 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. Barclays raised 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, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $241.92.

GE Aerospace Trading Down 1.1%

NYSE GE opened at $297.12 on Friday. The stock has a market cap of $315.08 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.23 and a beta of 1.48. 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 $307.25. The stock’s fifty day moving average price is $276.63 and its 200-day moving average price is $239.75.

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. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities analysts forecast that GE Aerospace will post 5.4 EPS 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 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.