Confluence Wealth Services Inc. Acquires 460 Shares of GE Aerospace $GE

Confluence Wealth Services Inc. grew its holdings in shares of GE Aerospace (NYSE:GE) by 5.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,151 shares of the company’s stock after acquiring an additional 460 shares during the quarter. Confluence Wealth Services Inc.’s holdings in GE Aerospace were worth $2,355,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GE. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the 1st quarter valued at $28,000. Copia Wealth Management boosted its stake in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after buying an additional 142 shares during the period. Nova Wealth Management Inc. bought a new position in GE Aerospace during the first quarter valued at $29,000. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at $30,000. Finally, First Pacific Financial raised its stake in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the period. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GE has been the subject of several analyst reports. Citigroup reissued a “buy” rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Jefferies Financial Group boosted their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.92.

GE Aerospace Trading Down 0.7%

NYSE:GE opened at $297.40 on Monday. The stock has a market capitalization of $315.38 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 3.20 and a beta of 1.49. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $280.65 and a 200 day moving average of $244.50.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm posted $1.20 earnings per share. The business’s quarterly 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, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio 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.