Old North State Wealth Management LLC Increases Stock Position in GE Aerospace $GE

Old North State Wealth Management LLC grew its position in shares of GE Aerospace (NYSE:GE) by 1.9% in the second quarter, HoldingsChannel reports. The firm owned 2,101 shares of the company’s stock after buying an additional 39 shares during the quarter. Old North State Wealth Management LLC’s holdings in GE Aerospace were worth $542,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Webster Bank N. A. raised its holdings in shares of GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC raised its stake in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after purchasing an additional 41 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in GE Aerospace by 1.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company’s stock valued at $810,000 after purchasing an additional 43 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of GE Aerospace by 19.5% in the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company’s stock worth $56,000 after buying an additional 46 shares in the last quarter. Finally, First National Bank Sioux Falls increased its holdings in shares of GE Aerospace by 2.8% in the 2nd quarter. First National Bank Sioux Falls now owns 1,663 shares of the company’s stock worth $428,000 after buying an additional 46 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Down 1.1%

NYSE:GE opened at $297.12 on Friday. The company has a market cap of $315.08 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $276.63 and a 200-day simple moving average of $239.75.

GE Aerospace (NYSE:GE) last posted 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 net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm posted $1.20 EPS. The firm’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 anticipate that GE Aerospace will post 5.4 EPS for the current 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 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 dividend yield of 0.5%. GE Aerospace’s payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GE. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Barclays raised their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Citigroup reiterated a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. 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. Finally, Wells Fargo & Company upped their price target on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.