Alpine Bank Wealth Management Trims Stake in GE Aerospace $GE

Alpine Bank Wealth Management lessened its position in GE Aerospace (NYSE:GE) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,600 shares of the company’s stock after selling 376 shares during the quarter. Alpine Bank Wealth Management’s holdings in GE Aerospace were worth $669,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after buying an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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. boosted its holdings in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after acquiring an additional 54,765 shares during the period. GQG Partners LLC bought a new position in GE Aerospace in the 1st quarter valued at $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% in 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 valued at $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 Performance

GE stock opened at $294.97 on Monday. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The business has a 50-day moving average price of $277.26 and a 200 day moving average price of $241.12. The company has a market capitalization of $312.80 billion, a P/E ratio of 41.14, a PEG ratio of 3.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE) last issued its 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 net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business earned $1.20 EPS. The firm’s quarterly 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. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup reiterated a “buy” rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Jefferies Financial Group raised their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.92.

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.