Hobart Private Capital LLC Has $624,000 Holdings in GE Aerospace $GE

Hobart Private Capital LLC raised its holdings in shares of GE Aerospace (NYSE:GE) by 65.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,424 shares of the company’s stock after buying an additional 955 shares during the quarter. Hobart Private Capital LLC’s holdings in GE Aerospace were worth $624,000 as of its most recent SEC filing.

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

GE Aerospace Trading Down 0.8%

NYSE GE opened at $303.97 on Friday. The firm has a market cap of $320.63 billion, a P/E ratio of 40.58, a P/E/G ratio of 3.18 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.73. The stock’s 50-day moving average is $289.19 and its 200-day moving average is $254.75. GE Aerospace has a one year low of $159.36 and a one year high of $316.53.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same quarter last year, the firm posted $1.15 earnings per share. GE Aerospace’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. Sell-side 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 dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s payout ratio is presently 19.23%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. Sanford C. Bernstein increased their price objective on GE Aerospace from $343.00 to $374.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Citigroup restated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average target price of $284.27.

GE Aerospace 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.