Sterling Investment Management LLC Buys 4,791 Shares of GE Aerospace $GE

Sterling Investment Management LLC lifted its stake in GE Aerospace (NYSE:GE) by 37.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,456 shares of the company’s stock after buying an additional 4,791 shares during the period. GE Aerospace makes up approximately 3.0% of Sterling Investment Management LLC’s investment portfolio, making the stock its 11th biggest position. Sterling Investment Management LLC’s holdings in GE Aerospace were worth $4,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Old North State Wealth Management LLC lifted its stake in GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after purchasing an additional 39 shares during the last quarter. Stephens Consulting LLC lifted its stake in GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock worth $66,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. lifted its stake in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after purchasing an additional 41 shares during the last quarter. Pacific Sage Partners LLC lifted its stake in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after purchasing an additional 41 shares during the last quarter. Finally, Ascent Capital Management LLC lifted its stake in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after purchasing an additional 42 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GE. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Jefferies Financial Group upped their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Citigroup restated a “buy” rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Barclays upped their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $281.27.

GE Aerospace Stock Up 1.3%

Shares of NYSE:GE opened at $306.47 on Wednesday. The company has a fifty day moving average of $287.16 and a 200-day moving average of $252.55. The company has a market capitalization of $324.99 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 3.26 and a beta of 1.49. 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 has a 52-week low of $159.36 and a 52-week high of $316.53.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The business had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

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.