Ingalls & Snyder LLC Sells 474 Shares of GE Aerospace $GE

Ingalls & Snyder LLC cut its stake in GE Aerospace (NYSE:GE) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,412 shares of the company’s stock after selling 474 shares during the quarter. Ingalls & Snyder LLC’s holdings in GE Aerospace were worth $1,650,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the first quarter worth $28,000. Nova Wealth Management Inc. bought a new stake in shares of GE Aerospace during the first quarter worth $29,000. IMG Wealth Management Inc. lifted its position in shares of GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace during the first quarter worth $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the first quarter worth $33,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GE. Sanford C. Bernstein lifted their target price on GE Aerospace from $343.00 to $374.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Wolfe Research lifted their target price on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. TD Cowen lifted their target price on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, UBS Group set a $366.00 target price on GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.27.

GE Aerospace Stock Performance

GE stock opened at $303.97 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The business has a 50-day moving average price of $289.19 and a 200 day moving average price of $255.82. The company has a market capitalization of $320.63 billion, a P/E ratio of 40.58, a PEG ratio of 3.14 and a beta of 1.49. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $316.53.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 yield of 0.5%. GE Aerospace’s payout ratio is currently 19.23%.

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.