Eastern Bank Increases Stock Position in GE Aerospace $GE

Eastern Bank lifted its holdings in GE Aerospace (NYSE:GE) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,331 shares of the company’s stock after purchasing an additional 205 shares during the period. Eastern Bank’s holdings in GE Aerospace were worth $2,659,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GE. GQG Partners LLC purchased a new stake in shares of GE Aerospace in the 1st quarter worth approximately $1,606,840,000. Nuveen LLC purchased a new stake in shares of GE Aerospace in the 1st quarter worth approximately $777,075,000. Amundi raised its stake in shares of GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after acquiring an additional 1,771,944 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of GE Aerospace by 7,406.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after acquiring an additional 1,196,060 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. UBS Group boosted their price objective 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. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Jefferies Financial Group boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.31.

GE Aerospace Trading Down 2.5%

Shares of GE Aerospace stock opened at $291.96 on Friday. 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 firm has a market capitalization of $309.61 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 3.14 and a beta of 1.49. The firm’s 50 day simple moving average is $283.44 and its two-hundred day simple moving average is $247.38.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $1.20 EPS. GE Aerospace’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. Analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid 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 yield of 0.5%. 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.