Penobscot Wealth Management Acquires Shares of 832 GE Aerospace $GE

Penobscot Wealth Management acquired a new stake in shares of GE Aerospace (NYSE:GE) during the 2nd quarter, HoldingsChannel reports. The firm acquired 832 shares of the company’s stock, valued at approximately $214,000.

Several other large investors have also bought and sold shares of GE. GQG Partners LLC bought a new position in GE Aerospace during the 1st quarter valued at $1,606,840,000. Nuveen LLC bought a new position in GE Aerospace during the 1st quarter valued at $777,075,000. Amundi raised its stake in shares of GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after purchasing an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of GE Aerospace by 6.3% during the 1st 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 during the period. Finally, 1832 Asset Management L.P. raised its stake in shares of GE Aerospace by 7,406.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after purchasing an additional 1,196,060 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Performance

Shares of GE opened at $303.97 on Monday. The company has a market cap of $320.63 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $289.19 and a 200-day moving average price of $255.82. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.53.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the company posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a $0.36 dividend. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s payout ratio is presently 19.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup reiterated a “buy” rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. 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 note on Tuesday, October 7th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $284.27.

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.