Summit Place Financial Advisors LLC Sells 150 Shares of GE Aerospace $GE

Summit Place Financial Advisors LLC cut its holdings in GE Aerospace (NYSE:GE) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,173 shares of the company’s stock after selling 150 shares during the quarter. GE Aerospace comprises approximately 2.2% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 10th largest holding. Summit Place Financial Advisors LLC’s holdings in GE Aerospace were worth $4,420,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GE. IMA Advisory Services Inc. acquired a new position in GE Aerospace in the first quarter valued at $28,000. Copia Wealth Management increased its stake in shares of 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 acquiring an additional 142 shares during the period. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace during the first quarter worth about $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace during the first quarter worth about $30,000. Finally, First Pacific Financial increased its stake in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Down 2.5%

Shares of NYSE GE opened at $291.96 on Friday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The company has a market capitalization of $309.61 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. 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 moving average is $283.44 and its two-hundred day moving average is $247.10.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 in the prior year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter 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. Equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s payout ratio is currently 20.08%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GE. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Barclays boosted their price objective 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, Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $251.31.

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.