GE Aerospace $GE Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its stake in GE Aerospace (NYSE:GE) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,009 shares of the company’s stock after selling 1,367 shares during the quarter. Welch & Forbes LLC’s holdings in GE Aerospace were worth $12,100,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Greater Midwest Financial Group LLC acquired a new position in GE Aerospace during the 2nd quarter worth approximately $207,000. Kesler Norman & Wride LLC acquired a new position in shares of GE Aerospace during the second quarter worth $424,000. Syverson Strege & Co purchased a new position in shares of GE Aerospace in the second quarter valued at $773,000. Great Lakes Retirement Inc. boosted its stake in shares of GE Aerospace by 80.3% in the second quarter. Great Lakes Retirement Inc. now owns 4,709 shares of the company’s stock valued at $1,212,000 after purchasing an additional 2,097 shares during the period. Finally, NWK Group Inc. increased its stake in GE Aerospace by 1.4% during the 2nd quarter. NWK Group Inc. now owns 32,009 shares of the company’s stock worth $8,239,000 after buying an additional 449 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Down 0.5%

Shares of GE Aerospace stock opened at $309.09 on Friday. The business has a 50-day moving average price of $293.60 and a 200 day moving average price of $260.25. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.67. The firm has a market cap of $326.03 billion, a P/E ratio of 41.27, a P/E/G ratio of 3.09 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99.

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

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Wolfe Research raised their price objective on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Jefferies Financial Group upped their target price on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, UBS Group set a $366.00 price target on shares of GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.27.

GE Aerospace Company 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.