GE Aerospace $GE Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in GE Aerospace (NYSE:GE) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 943,272 shares of the company’s stock after purchasing an additional 124,107 shares during the quarter. PNC Financial Services Group Inc. owned about 0.09% of GE Aerospace worth $242,789,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tobam acquired a new position in shares of GE Aerospace during the second quarter worth about $75,000. Bouchey Financial Group Ltd raised its stake in shares of GE Aerospace by 34.1% during the 2nd quarter. Bouchey Financial Group Ltd now owns 2,361 shares of the company’s stock worth $608,000 after buying an additional 601 shares in the last quarter. KBC Group NV grew its holdings in GE Aerospace by 36.1% during the second quarter. KBC Group NV now owns 261,762 shares of the company’s stock worth $67,375,000 after acquiring an additional 69,418 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in GE Aerospace by 2.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 563,135 shares of the company’s stock worth $144,945,000 after acquiring an additional 15,915 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in GE Aerospace by 5.2% in the second quarter. SBI Securities Co. Ltd. now owns 11,517 shares of the company’s stock valued at $2,964,000 after acquiring an additional 568 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 0.5%

GE stock opened at $310.53 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.67. The firm’s 50-day simple moving average is $298.32 and its 200 day simple moving average is $266.66. The stock has a market cap of $327.55 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were paid a $0.36 dividend. The ex-dividend date of this dividend was 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 (DPR) is currently 19.23%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GE shares. Jefferies Financial Group upped their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. The Goldman Sachs Group increased their target price on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $301.27.

GE Aerospace Company 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.