GE Aerospace $GE Shares Acquired by Putney Financial Group LLC

Putney Financial Group LLC lifted its position in shares of GE Aerospace (NYSE:GE) by 4,458.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,242 shares of the company’s stock after acquiring an additional 5,127 shares during the quarter. GE Aerospace accounts for approximately 1.0% of Putney Financial Group LLC’s investment portfolio, making the stock its 19th biggest holding. Putney Financial Group LLC’s holdings in GE Aerospace were worth $1,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. IMG Wealth Management Inc. boosted its position in GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $28,000. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace during the 1st quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the 1st quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GE shares. Bank of America upped their price objective on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their price target on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Stock Performance

GE opened at $310.64 on Friday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $316.67. The firm has a market capitalization of $327.67 billion, a PE ratio of 41.47, a PEG ratio of 3.09 and a beta of 1.49. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $292.75 and its 200 day moving average price is $258.88.

GE Aerospace (NYSE:GE) last released 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. The business had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period last year, the company posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Monday, September 29th were paid a dividend of $0.36 per share. 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 payout ratio 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.