Granite Harbor Advisors Inc. Has $313,000 Position in GE Aerospace $GE

Granite Harbor Advisors Inc. increased its stake in GE Aerospace (NYSE:GE) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,217 shares of the company’s stock after purchasing an additional 61 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in GE Aerospace were worth $313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. lifted its holdings in GE Aerospace by 113.5% in the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the first quarter worth approximately $28,000. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace during the first quarter worth approximately $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace during the first quarter worth approximately $30,000. Finally, O Brien Wealth Partners LLC acquired a new position in shares of GE Aerospace during the first quarter worth approximately $33,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. TD Cowen upped their price target on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Citigroup restated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Wolfe Research upped their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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. 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 stock has a fifty day moving average price of $287.74 and a two-hundred day moving average price of $252.86. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.53. The firm has a market capitalization of $315.63 billion, a P/E ratio of 39.74, a P/E/G ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its quarterly earnings data 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 return on equity of 33.81% and a net margin of 18.34%.The firm had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same period in the prior year, the company posted $1.15 earnings per share. The business’s revenue for the quarter 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, 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 will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date 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 (DPR) 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.