Shum Financial Group Inc. Takes Position in GE Aerospace $GE

Shum Financial Group Inc. bought a new position in shares of GE Aerospace (NYSE:GE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,985 shares of the company’s stock, valued at approximately $597,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bare Financial Services Inc increased its stake in GE Aerospace by 81.1% during the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Lavaca Capital LLC lifted its position in shares of GE Aerospace by 1,666.7% in the second quarter. Lavaca Capital LLC now owns 106 shares of the company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace in the first quarter valued at approximately $29,000. IMG Wealth Management Inc. boosted its stake in shares of GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after acquiring an additional 59 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of GE Aerospace during the second quarter worth approximately $39,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE Aerospace stock opened at $311.78 on Wednesday. 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 company has a 50-day moving average price of $301.59 and a 200 day moving average price of $283.73. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $318.06. The stock has a market cap of $328.87 billion, a P/E ratio of 41.63, a PEG ratio of 2.41 and a beta of 1.40.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. GE Aerospace’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced 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 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 brokerages have weighed in on GE. Royal Bank Of Canada raised their price objective on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. BNP Paribas Exane began coverage on shares of GE Aerospace in a research note on Tuesday, November 18th. They issued an “underperform” rating on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a report on Wednesday, October 8th. Sixteen analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $309.94.

Insider Activity at GE Aerospace

In other news, SVP Russell Stokes sold 8,000 shares of the 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 transaction, the senior vice president directly owned 150,434 shares in the company, valued at approximately $44,785,706.14. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

GE Aerospace Profile

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.