Confluence Wealth Services Inc. Buys 460 Shares of GE Aerospace $GE

Confluence Wealth Services Inc. grew its stake in shares of GE Aerospace (NYSE:GE) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,151 shares of the company’s stock after acquiring an additional 460 shares during the quarter. Confluence Wealth Services Inc.’s holdings in GE Aerospace were worth $2,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace in the first quarter worth $28,000. Copia Wealth Management boosted its holdings in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace during the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the first quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC bought a new position in GE Aerospace during the first quarter valued at approximately $33,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Down 0.7%

NYSE GE opened at $297.40 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $307.25. The stock’s 50 day moving average is $280.65 and its 200 day moving average is $244.50. The stock has a market cap of $315.38 billion, a PE ratio of 41.48, a P/E/G ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GE shares. Barclays increased their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a report on Saturday, September 27th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.