Cidel Asset Management Inc. Has $479,000 Stock Position in GE Aerospace $GE

Cidel Asset Management Inc. increased its holdings in shares of GE Aerospace (NYSE:GE) by 8.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,862 shares of the company’s stock after purchasing an additional 147 shares during the period. Cidel Asset Management Inc.’s holdings in GE Aerospace were worth $479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Old North State Wealth Management LLC grew its holdings in GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after purchasing an additional 39 shares during the period. Stephens Consulting LLC grew its holdings in GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock worth $66,000 after purchasing an additional 39 shares during the period. Webster Bank N. A. grew its holdings in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after purchasing an additional 41 shares during the period. Pacific Sage Partners LLC grew its holdings in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after purchasing an additional 41 shares during the period. Finally, Ascent Capital Management LLC grew its holdings in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after purchasing an additional 42 shares during the period. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.3%

Shares of GE stock opened at $300.60 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market cap of $318.77 billion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The stock has a 50 day simple moving average of $286.07 and a 200 day simple moving average of $251.22. 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 (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 earnings per share. On average, research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business 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 $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s payout ratio is 20.08%.

Analyst Ratings Changes

A number of research firms recently commented on GE. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. UBS Group boosted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Jefferies Financial Group boosted their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. TD Cowen boosted their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.31.

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.