Sovereign Financial Group Inc. Sells 248 Shares of GE Aerospace $GE

Sovereign Financial Group Inc. reduced its stake in GE Aerospace (NYSE:GE) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,447 shares of the company’s stock after selling 248 shares during the period. Sovereign Financial Group Inc.’s holdings in GE Aerospace were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after acquiring an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares during the last quarter. Invesco Ltd. grew its position in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after acquiring an additional 54,765 shares during the last quarter. GQG Partners LLC bought a new stake in GE Aerospace during the 1st quarter worth approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GE Aerospace by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock worth $1,536,387,000 after acquiring an additional 491,207 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Down 2.5%

NYSE:GE opened at $291.96 on Friday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $309.61 billion, a P/E ratio of 40.72, a P/E/G ratio of 3.14 and a beta of 1.49. The stock’s fifty day simple moving average is $283.44 and its 200-day simple moving average is $247.38.

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

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

Analyst Ratings Changes

A number of research firms recently commented on GE. Jefferies Financial Group increased their price target on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Zacks Research lowered GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday. Wells Fargo & Company increased their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.31.

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.