Ingalls & Snyder LLC Sells 474 Shares of GE Aerospace $GE

Ingalls & Snyder LLC cut its position in GE Aerospace (NYSE:GE) by 6.9% in the second quarter, HoldingsChannel.com reports. The firm owned 6,412 shares of the company’s stock after selling 474 shares during the period. Ingalls & Snyder LLC’s holdings in GE Aerospace were worth $1,650,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth about $28,000. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth about $29,000. IMG Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace during the first quarter worth about $30,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace during the first quarter worth about $33,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of NYSE GE opened at $303.97 on Monday. The business’s 50 day moving average price is $289.19 and its 200 day moving average price is $255.82. The firm has a market cap of $320.63 billion, a P/E ratio of 40.58, a P/E/G ratio of 3.14 and a beta of 1.49. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.GE Aerospace’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GE shares. The Goldman Sachs Group boosted their price target on GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Wells Fargo & Company boosted their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research note on Saturday. UBS Group set a $366.00 price target on GE Aerospace and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $284.27.

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.