MFG Wealth Management Inc. Sells 42 Shares of GE Aerospace $GE

MFG Wealth Management Inc. reduced its stake in GE Aerospace (NYSE:GE) by 0.3% during the 2nd quarter, Holdings Channel reports. The fund owned 12,035 shares of the company’s stock after selling 42 shares during the period. GE Aerospace makes up about 2.6% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 13th largest position. MFG Wealth Management Inc.’s holdings in GE Aerospace were worth $3,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after acquiring an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares during the period. Invesco Ltd. raised its holdings in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after acquiring an additional 54,765 shares during the period. GQG Partners LLC bought a new position in GE Aerospace in the 1st quarter valued at about $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after acquiring an additional 491,207 shares during the period. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

NYSE GE opened at $286.86 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $304.20 billion, a price-to-earnings ratio of 40.01, a P/E/G ratio of 3.03 and a beta of 1.48. The firm’s 50 day simple moving average is $270.09 and its 200 day simple moving average is $234.71. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $287.11.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a dividend of $0.36 per share. The ex-dividend date was Monday, July 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Citigroup restated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $232.92.

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.