GE Aerospace $GE is Pelham Capital Ltd.’s 3rd Largest Position

Pelham Capital Ltd. lowered its stake in GE Aerospace (NYSE:GE) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,848 shares of the company’s stock after selling 20,360 shares during the period. GE Aerospace accounts for 9.6% of Pelham Capital Ltd.’s holdings, making the stock its 3rd biggest position. Pelham Capital Ltd.’s holdings in GE Aerospace were worth $20,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Warren Street Wealth Advisors LLC raised its stake in GE Aerospace by 4.3% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,278 shares of the company’s stock worth $329,000 after acquiring an additional 53 shares during the last quarter. Vicus Capital raised its stake in GE Aerospace by 95.6% in the 2nd quarter. Vicus Capital now owns 3,004 shares of the company’s stock worth $773,000 after acquiring an additional 1,468 shares during the last quarter. Naples Global Advisors LLC raised its stake in shares of GE Aerospace by 13.0% in the second quarter. Naples Global Advisors LLC now owns 1,691 shares of the company’s stock worth $435,000 after purchasing an additional 195 shares during the last quarter. Pure Financial Advisors LLC raised its stake in shares of GE Aerospace by 14.2% in the second quarter. Pure Financial Advisors LLC now owns 4,135 shares of the company’s stock worth $1,064,000 after purchasing an additional 515 shares during the last quarter. Finally, RKL Wealth Management LLC raised its stake in shares of GE Aerospace by 7.4% in the second quarter. RKL Wealth Management LLC now owns 1,091 shares of the company’s stock worth $281,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GE. Jefferies Financial Group raised their price target 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. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Citigroup reiterated a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.92.

GE Aerospace Stock Up 0.2%

GE stock opened at $301.41 on Thursday. The stock has a market capitalization of $319.63 billion, a P/E ratio of 42.04, a P/E/G ratio of 3.24 and a beta of 1.49. The firm has a 50-day simple moving average of $279.49 and a 200-day simple moving average of $242.61. 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 52 week low of $159.36 and a 52 week high of $307.25.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $1.20 EPS. GE Aerospace’s quarterly revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share 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 given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s payout ratio 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.