GE Aerospace $GE Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lessened its position in GE Aerospace (NYSE:GE) by 11.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,854 shares of the company’s stock after selling 234 shares during the period. Sonora Investment Management Group LLC’s holdings in GE Aerospace were worth $477,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GE. GQG Partners LLC acquired a new stake in shares of GE Aerospace in the 1st quarter worth $1,606,840,000. Nuveen LLC acquired a new stake in shares of GE Aerospace in the first quarter valued at about $777,075,000. Amundi lifted its stake in shares of GE Aerospace by 124.0% in the first quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after purchasing an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of GE Aerospace by 7,406.4% in the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock valued at $242,624,000 after purchasing an additional 1,196,060 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent analyst reports. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, Citigroup restated a “buy” rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.92.

GE Aerospace Stock Performance

NYSE:GE opened at $294.97 on Monday. 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 firm has a 50-day moving average price of $277.26 and a two-hundred day moving average price of $241.12. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The company has a market capitalization of $312.80 billion, a P/E ratio of 41.14, a price-to-earnings-growth ratio of 3.17 and a beta of 1.48.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during 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 company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous 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, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. 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 20.08%.

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.