Facet Wealth Inc. Invests $302,000 in GE Aerospace $GE

Facet Wealth Inc. bought a new position in shares of GE Aerospace (NYSE:GE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,113 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC boosted its position in GE Aerospace by 3.9% during the second quarter. Liberty Wealth Management LLC now owns 1,308 shares of the company’s stock worth $337,000 after purchasing an additional 49 shares during the period. Penobscot Wealth Management bought a new stake in shares of GE Aerospace during the 2nd quarter worth about $214,000. Brookwood Investment Group LLC boosted its holdings in shares of GE Aerospace by 110.5% during the 2nd quarter. Brookwood Investment Group LLC now owns 6,162 shares of the company’s stock worth $1,586,000 after buying an additional 3,234 shares during the period. Banco Santander S.A. boosted its holdings in shares of GE Aerospace by 624.8% during the second quarter. Banco Santander S.A. now owns 104,017 shares of the company’s stock worth $26,773,000 after acquiring an additional 89,666 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of GE Aerospace by 7.9% during the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 81,553 shares of the company’s stock worth $20,977,000 after acquiring an additional 5,975 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

NYSE:GE opened at $313.06 on Tuesday. The stock has a fifty day moving average price of $290.08 and a 200-day moving average price of $256.70. The company has a market cap of $330.22 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 3.14 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.53.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping 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 business had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. GE Aerospace’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, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal 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 dividend of $0.36 per share. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GE. Wolfe Research boosted their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a research note on Wednesday, October 8th. Bank of America boosted their target price on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Citigroup reissued a “buy” rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.27.

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.