844 Shares in GE Aerospace $GE Acquired by Concord Asset Management LLC VA

Concord Asset Management LLC VA bought a new position in shares of GE Aerospace (NYSE:GE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 844 shares of the company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace during the first quarter worth $28,000. Copia Wealth Management raised its holdings in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after buying an additional 142 shares during the period. Nova Wealth Management Inc. purchased a new stake in GE Aerospace during the first quarter valued at about $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace in the first quarter worth about $30,000. Finally, First Pacific Financial boosted its holdings in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GE. TD Cowen lifted their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Jefferies Financial Group boosted their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $267.13.

GE Aerospace Trading Up 2.1%

GE Aerospace stock opened at $297.47 on Tuesday. The company’s fifty day simple moving average is $283.87 and its 200-day simple moving average is $248.35. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $307.25. The stock has a market cap of $315.45 billion, a P/E ratio of 41.49, a P/E/G ratio of 3.14 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is presently 20.08%.

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.