McNamara Financial Services Inc. Takes $866,000 Position in GE Aerospace $GE

McNamara Financial Services Inc. bought a new stake in GE Aerospace (NYSE:GE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,364 shares of the company’s stock, valued at approximately $866,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the first quarter worth about $28,000. Copia Wealth Management increased its position in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the period. Nova Wealth Management Inc. acquired a new stake in GE Aerospace in the first quarter worth about $29,000. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace in the first quarter worth about $30,000. Finally, First Pacific Financial increased its position in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Price Performance

Shares of GE opened at $291.96 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 1 year low of $159.36 and a 1 year high of $307.25. The stock has a market cap of $309.61 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The stock’s 50-day moving average price is $283.44 and its two-hundred day moving average price is $247.67.

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 analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.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 earned $1.20 earnings per share. The company’s revenue 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. On average, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.50.

GE Aerospace 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.