Kane Investment Management Inc. Buys 1,504 Shares of GE Aerospace $GE

Kane Investment Management Inc. raised its holdings in GE Aerospace (NYSE:GE) by 30.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,383 shares of the company’s stock after purchasing an additional 1,504 shares during the period. Kane Investment Management Inc.’s holdings in GE Aerospace were worth $1,647,000 at the end of the most recent quarter.

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

GE Aerospace Trading Up 0.1%

Shares of GE Aerospace stock opened at $304.50 on Friday. The stock has a market cap of $321.19 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. The firm has a fifty day moving average price of $299.92 and a 200 day moving average price of $267.93. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating 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 business had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue was up 26.4% on a year-over-year basis. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Monday, September 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is 19.23%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wolfe Research upped their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. boosted 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. Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. The Goldman Sachs Group increased their target price on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on 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.