GE Aerospace $GE Shares Bought by Patten Group Inc.

Patten Group Inc. raised its stake in GE Aerospace (NYSE:GE) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,812 shares of the company’s stock after purchasing an additional 157 shares during the quarter. Patten Group Inc.’s holdings in GE Aerospace were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Old North State Wealth Management LLC boosted its holdings in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock valued at $542,000 after purchasing an additional 39 shares during the last quarter. Stephens Consulting LLC boosted its holdings in shares of GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after purchasing an additional 41 shares during the last quarter. Pacific Sage Partners LLC boosted its holdings in shares of GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after purchasing an additional 41 shares during the last quarter. Finally, Ascent Capital Management LLC boosted its holdings in shares of GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock valued at $585,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GE. The Goldman Sachs Group lifted their price target on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.27.

GE Aerospace Stock Performance

GE Aerospace stock opened at $297.64 on Thursday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.53. The company has a market capitalization of $315.63 billion, a price-to-earnings ratio of 39.74, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm’s fifty day moving average price is $287.74 and its 200 day moving average price is $252.86.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) 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 33.81%. The firm had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm’s quarterly 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. On average, research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company 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 of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s payout ratio is 19.23%.

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.