First Citizens Bank & Trust Co. Acquires 278 Shares of GE Aerospace $GE

First Citizens Bank & Trust Co. boosted its position in GE Aerospace (NYSE:GE) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,581 shares of the company’s stock after buying an additional 278 shares during the period. First Citizens Bank & Trust Co.’s holdings in GE Aerospace were worth $3,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. lifted its holdings in GE Aerospace by 23.5% in the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after buying an additional 331 shares during the period. Smartleaf Asset Management LLC lifted its holdings in GE Aerospace by 17.1% in the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after buying an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace in the first quarter valued at $203,000. Concurrent Investment Advisors LLC lifted its holdings in GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock valued at $8,065,000 after buying an additional 8,245 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in GE Aerospace by 7.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock valued at $46,876,000 after buying an additional 11,873 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE GE opened at $306.26 on Friday. The firm’s 50-day moving average price is $288.46 and its 200-day moving average price is $253.82. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $316.53. The firm has a market capitalization of $323.05 billion, a P/E ratio of 40.89, a P/E/G ratio of 3.11 and a beta of 1.49. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The firm’s revenue 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. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio is currently 19.23%.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their target price on shares of GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. The Goldman Sachs Group upped their price objective 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. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, TD Cowen upped their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Fifteen investment 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.27.

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.