Pettinga Financial Advisors LLC Acquires New Stake in GE Aerospace $GE

Pettinga Financial Advisors LLC acquired a new stake in shares of GE Aerospace (NYSE:GE) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 916 shares of the company’s stock, valued at approximately $236,000.

Several other large investors also recently added to or reduced their stakes in the business. Bridges Investment Management Inc. boosted its stake in GE Aerospace by 0.9% during the second quarter. Bridges Investment Management Inc. now owns 9,540 shares of the company’s stock valued at $2,456,000 after buying an additional 87 shares during the period. Patten & Patten Inc. TN raised its position in GE Aerospace by 12.4% during the second quarter. Patten & Patten Inc. TN now owns 14,610 shares of the company’s stock valued at $3,760,000 after purchasing an additional 1,610 shares in the last quarter. Callahan Advisors LLC purchased a new stake in GE Aerospace during the second quarter valued at about $256,000. Chesapeake Wealth Management purchased a new stake in GE Aerospace during the second quarter valued at about $247,000. Finally, Rosenberg Matthew Hamilton raised its position in GE Aerospace by 54.8% during the second quarter. Rosenberg Matthew Hamilton now owns 2,162 shares of the company’s stock valued at $556,000 after purchasing an additional 765 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 0.1%

GE opened at $300.49 on Thursday. The company has a market cap of $318.65 billion, a P/E ratio of 41.91, a P/E/G ratio of 3.23 and a beta of 1.49. The business’s 50-day moving average price is $285.00 and its 200-day moving average price is $249.07. 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.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, equities analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 20.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wolfe Research raised their price target on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. Finally, Wall Street Zen downgraded GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and a consensus price target of $267.13.

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.