Atlas Legacy Advisors LLC Invests $222,000 in GE Aerospace $GE

Atlas Legacy Advisors LLC bought a new stake in shares of GE Aerospace (NYSE:GE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 861 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds have also recently made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter valued at $28,000. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter valued at about $29,000. IMG Wealth Management Inc. boosted its position in shares of GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after acquiring an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the first quarter worth about $30,000. Finally, Financial Network Wealth Advisors LLC grew its holdings in shares of GE Aerospace by 81.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 77 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE Aerospace stock opened at $307.28 on Friday. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.67. The stock’s 50 day simple moving average is $296.88 and its two-hundred day simple moving average is $264.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The stock has a market cap of $324.13 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 3.09 and a beta of 1.56.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The business’s 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. As a group, analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend 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 presently 19.23%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GE shares. TD Cowen upped 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. Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group set a $366.00 price objective on shares of GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Citigroup reaffirmed a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, The Goldman Sachs Group lifted their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Fifteen equities research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.