Shell Asset Management Co. Has $8.89 Million Holdings in GE Aerospace $GE

Shell Asset Management Co. raised its position in GE Aerospace (NYSE:GE) by 61.5% in the 2nd quarter, Holdings Channel reports. The firm owned 34,532 shares of the company’s stock after buying an additional 13,145 shares during the period. Shell Asset Management Co.’s holdings in GE Aerospace were worth $8,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the 1st quarter worth approximately $28,000. Copia Wealth Management lifted its position in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. bought a new position in GE Aerospace in the first quarter valued at $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace during the 1st quarter worth about $30,000. Finally, First Pacific Financial grew its holdings in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research report on Saturday, September 27th. Citigroup reaffirmed a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Jefferies Financial Group lifted their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $241.92.

GE Aerospace Stock Up 0.4%

GE stock opened at $298.16 on Tuesday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The business has a 50-day simple moving average of $281.20 and a 200 day simple moving average of $245.15. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $316.18 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The company’s revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is 20.08%.

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.