Patriot Financial Group Insurance Agency LLC Has $4.11 Million Stock Position in GE Aerospace $GE

Patriot Financial Group Insurance Agency LLC raised its position in GE Aerospace (NYSE:GE) by 95.1% in the third quarter, HoldingsChannel reports. The fund owned 13,674 shares of the company’s stock after purchasing an additional 6,665 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in GE Aerospace were worth $4,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GE. Vanguard Group Inc. grew its position in GE Aerospace by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock valued at $23,677,180,000 after purchasing an additional 1,482,069 shares during the period. State Street Corp raised its holdings in GE Aerospace by 1.4% during the second quarter. State Street Corp now owns 44,268,912 shares of the company’s stock worth $11,394,375,000 after buying an additional 613,866 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after buying an additional 1,492,486 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE Aerospace by 3.1% in the second quarter. Geode Capital Management LLC now owns 24,113,967 shares of the company’s stock valued at $6,181,956,000 after buying an additional 724,559 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of GE Aerospace during the second quarter valued at about $3,408,828,000. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 3.3%

Shares of GE stock opened at $301.76 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The company has a market capitalization of $318.30 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 2.26 and a beta of 1.40. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. The company has a 50-day simple moving average of $299.40 and a two-hundred day simple moving average of $279.50.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, December 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. UBS Group set a $366.00 target price on shares of GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada lifted their price target on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Citigroup initiated coverage on GE Aerospace in a research note on Thursday, December 11th. They issued a “buy” rating and a $386.00 price objective for the company. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $309.94.

Insider Transactions at GE Aerospace

In other news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the sale, the senior vice president directly owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This trade represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

GE Aerospace Company 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.