Riverview Trust Co Sells 291 Shares of GE Aerospace $GE

Riverview Trust Co trimmed its position in shares of GE Aerospace (NYSE:GE) by 30.5% during the second quarter, HoldingsChannel.com reports. The firm owned 664 shares of the company’s stock after selling 291 shares during the period. Riverview Trust Co’s holdings in GE Aerospace were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GE. GQG Partners LLC acquired a new stake in shares of GE Aerospace during the first quarter valued at about $1,606,840,000. Nuveen LLC acquired a new stake in shares of GE Aerospace during the first quarter valued at about $777,075,000. Amundi boosted its stake in shares of GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after purchasing an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $5,030,028,000 after purchasing an additional 1,492,486 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of GE Aerospace by 7,406.4% during the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock valued at $242,624,000 after purchasing an additional 1,196,060 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Price Performance

GE Aerospace stock opened at $301.41 on Thursday. The stock has a market capitalization of $319.63 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 3.24 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The stock’s 50 day moving average price is $279.49 and its two-hundred day moving average price is $242.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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 analysts’ consensus estimates of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio is presently 20.08%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group lifted their price target on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, Citigroup reiterated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $241.92.

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.