Pinnacle Associates Ltd. Has $6.03 Million Stock Position in GE Aerospace $GE

Pinnacle Associates Ltd. boosted its stake in GE Aerospace (NYSE:GE) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 23,410 shares of the company’s stock after buying an additional 196 shares during the period. Pinnacle Associates Ltd.’s holdings in GE Aerospace were worth $6,025,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after buying an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after buying an additional 1,492,486 shares during the last quarter. Invesco Ltd. grew its stake in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after buying an additional 54,765 shares during the last quarter. GQG Partners LLC acquired a new position in GE Aerospace in the 1st quarter valued at about $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after buying an additional 491,207 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $309.09 on Friday. The company’s 50 day moving average price is $293.60 and its two-hundred day moving average price is $259.74. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.67. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The firm has a market cap of $326.03 billion, a PE ratio of 41.27, a PEG ratio of 3.09 and a beta of 1.49.

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

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were given a dividend of $0.36 per share. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 19.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a research note on Wednesday, October 8th. TD Cowen increased their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wolfe Research increased their target price on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. UBS Group set a $366.00 target price on shares of GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada increased their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average target price of $301.27.

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.