SteelPeak Wealth LLC Increases Stake in GE Aerospace $GE

SteelPeak Wealth LLC increased its holdings in shares of GE Aerospace (NYSE:GE) by 202.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,735 shares of the company’s stock after buying an additional 5,845 shares during the period. SteelPeak Wealth LLC’s holdings in GE Aerospace were worth $2,248,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameriflex Group Inc. increased its position in shares of GE Aerospace by 23.5% in the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after purchasing an additional 331 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after purchasing an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $203,000. Concurrent Investment Advisors LLC increased its position in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC increased its position in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock valued at $2,751,000 after purchasing an additional 9,580 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GE shares. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Barclays upped their target price 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. Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Citigroup restated a “buy” rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $241.92.

GE Aerospace Stock Up 1.3%

Shares of NYSE:GE opened at $302.12 on Wednesday. The stock has a market cap of $320.37 billion, a P/E ratio of 42.14, a P/E/G ratio of 3.21 and a beta of 1.49. The firm has a fifty day moving average price of $281.84 and a 200 day moving average price of $245.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25.

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

GE Aerospace Announces Dividend

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

About GE Aerospace

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.