GE Aerospace $GE Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of GE Aerospace (NYSE:GE) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,112 shares of the company’s stock after buying an additional 778 shares during the period. Maryland State Retirement & Pension System’s holdings in GE Aerospace were worth $13,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Old North State Wealth Management LLC grew its position 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 buying an additional 39 shares in the last quarter. Webster Bank N. A. grew its position 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 buying an additional 41 shares in the last quarter. Pacific Sage Partners LLC grew its position 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 buying an additional 41 shares in the last quarter. Ascent Capital Management LLC grew its position 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 buying an additional 42 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its stake in GE Aerospace by 1.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company’s stock worth $810,000 after purchasing an additional 43 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

NYSE:GE opened at $302.56 on Thursday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The firm has a 50 day moving average of $282.43 and a 200-day moving average of $245.94. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $320.85 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 3.25 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group raised their price target 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. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. 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. Finally, Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.31.

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.