Redhawk Wealth Advisors Inc. Raises Holdings in GE Aerospace $GE

Redhawk Wealth Advisors Inc. increased its position in GE Aerospace (NYSE:GE) by 224.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,506 shares of the company’s stock after purchasing an additional 3,808 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in GE Aerospace were worth $1,656,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bath Savings Trust Co lifted its stake in GE Aerospace by 0.7% in the third quarter. Bath Savings Trust Co now owns 5,511 shares of the company’s stock valued at $1,658,000 after buying an additional 40 shares during the last quarter. Richard P Slaughter Associates Inc acquired a new position in shares of GE Aerospace in the 3rd quarter valued at $219,000. Voya Investment Management LLC raised its position in GE Aerospace by 9.5% in the 3rd quarter. Voya Investment Management LLC now owns 1,148,614 shares of the company’s stock valued at $345,526,000 after purchasing an additional 99,268 shares during the last quarter. Affinity Capital Advisors LLC acquired a new stake in GE Aerospace during the 3rd quarter worth $224,000. Finally, Dynamic Advisor Solutions LLC grew its position in GE Aerospace by 14.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 22,603 shares of the company’s stock worth $6,799,000 after purchasing an additional 2,805 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $301.76 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $299.40 and a 200-day simple moving average of $279.50. The company has a market cap of $318.30 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 2.26 and a beta of 1.40. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.67.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The firm had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the business 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. On average, equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group upped their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Bank of America boosted their price target on GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. TD Cowen upped their price objective on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price target on GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Sixteen analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.94.

Insiders Place Their Bets

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total value of $2,381,680.00. Following the completion of the transaction, the senior vice president directly owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

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.