Pekin Hardy Strauss Inc. Sells 304 Shares of GE Aerospace $GE

Pekin Hardy Strauss Inc. trimmed its holdings in GE Aerospace (NYSE:GE) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,197 shares of the company’s stock after selling 304 shares during the period. Pekin Hardy Strauss Inc.’s holdings in GE Aerospace were worth $1,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GE. GQG Partners LLC purchased a new position in GE Aerospace in the 1st quarter worth approximately $1,606,840,000. Nuveen LLC purchased a new stake in GE Aerospace during the 1st quarter valued at approximately $777,075,000. Amundi raised its position in shares of GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after buying an additional 1,771,944 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of GE Aerospace by 6.3% during the first 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. Finally, 1832 Asset Management L.P. lifted its holdings in shares of GE Aerospace by 7,406.4% in the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after buying an additional 1,196,060 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group increased their price objective on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Barclays boosted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Price Performance

GE stock opened at $307.28 on Friday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.67. The firm has a market capitalization of $324.13 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. The company has a fifty day simple moving average of $296.88 and a two-hundred day simple moving average of $264.04. 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 announced its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same period in the prior year, the company earned $1.15 EPS. 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. Analysts anticipate 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 was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were paid a $0.36 dividend. 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 (DPR) is presently 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.