Whitaker Myers Wealth Managers LTD. Makes New Investment in GE Aerospace $GE

Whitaker Myers Wealth Managers LTD. acquired a new stake in GE Aerospace (NYSE:GE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,129 shares of the company’s stock, valued at approximately $941,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bare Financial Services Inc lifted its position in GE Aerospace by 81.1% during the second quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Lavaca Capital LLC raised its stake in shares of GE Aerospace by 1,666.7% during the 2nd quarter. Lavaca Capital LLC now owns 106 shares of the company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. IMG Wealth Management Inc. lifted its holdings in shares of GE Aerospace by 113.5% in the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after buying an additional 59 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of GE Aerospace by 122.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 138 shares of the company’s stock valued at $42,000 after buying an additional 76 shares during the period. Finally, Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace in the first quarter worth about $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Russell Stokes sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 150,434 shares in the company, valued at approximately $44,785,706.14. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GE. UBS Group set a $366.00 price target on GE Aerospace and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Citigroup began coverage on shares of GE Aerospace in a research report on Thursday, December 11th. They set a “buy” rating and a $386.00 price target on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $309.94.

GE Aerospace Stock Up 0.3%

Shares of NYSE GE opened at $316.48 on Friday. The firm has a market cap of $333.83 billion, a price-to-earnings ratio of 42.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The company’s 50-day simple moving average is $301.02 and its 200-day simple moving average is $281.70. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $317.75.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

GE Aerospace Company 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.