Onyx Bridge Wealth Group LLC Decreases Stock Holdings in GE Aerospace $GE

Onyx Bridge Wealth Group LLC lessened its holdings in GE Aerospace (NYSE:GE) by 19.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,342 shares of the company’s stock after selling 549 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in GE Aerospace were worth $603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Old North State Wealth Management LLC lifted its stake in shares of GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after purchasing an additional 39 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of GE Aerospace by 18.0% during the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after buying an additional 39 shares during the period. Webster Bank N. A. lifted its position in GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC lifted its position in GE Aerospace by 3.5% during the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC boosted its holdings in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Trading Down 2.9%

GE opened at $297.64 on Thursday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.53. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market capitalization of $315.63 billion, a PE ratio of 39.74, a P/E/G ratio of 3.20 and a beta of 1.49. The firm’s fifty day moving average price is $287.74 and its 200 day moving average price is $252.86.

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 the consensus estimate of $1.46 by $0.20. The company had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 33.81%. The company’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. UBS Group set a $366.00 price target on shares of GE Aerospace and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen boosted their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Citigroup reaffirmed a “buy” rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, GE Aerospace currently has a consensus 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.