GE Aerospace $GE Shares Sold by Ballast Advisors LLC

Ballast Advisors LLC trimmed its position in shares of GE Aerospace (NYSE:GE) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 2,205 shares of the company’s stock after selling 66 shares during the quarter. Ballast Advisors LLC’s holdings in GE Aerospace were worth $568,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after purchasing an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares in the last quarter. Invesco Ltd. lifted its stake in GE Aerospace by 0.6% during the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after purchasing an additional 54,765 shares in the last quarter. GQG Partners LLC acquired a new position in GE Aerospace during the first quarter worth $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in GE Aerospace by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock worth $1,536,387,000 after purchasing an additional 491,207 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. TD Cowen upped their price target on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research report on Saturday. UBS Group set a $366.00 price objective on GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $284.27.

GE Aerospace Stock Performance

NYSE:GE opened at $303.97 on Friday. The firm has a market capitalization of $320.63 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 3.15 and a beta of 1.49. The business’s fifty day moving average price is $289.19 and its 200 day moving average price is $255.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.73. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.53.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.GE Aerospace’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced 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. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio is 19.23%.

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.