RNC Capital Management LLC Sells 475 Shares of GE Aerospace $GE

RNC Capital Management LLC cut its position in shares of GE Aerospace (NYSE:GE) by 32.1% during the second quarter, HoldingsChannel.com reports. The firm owned 1,003 shares of the company’s stock after selling 475 shares during the period. RNC Capital Management LLC’s holdings in GE Aerospace were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GE. Brighton Jones LLC increased its position in shares of GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC increased its position in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC increased its position in shares of GE Aerospace by 18.5% during the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company’s stock valued at $5,066,000 after purchasing an additional 3,946 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of GE Aerospace by 186.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,044 shares of the company’s stock valued at $3,011,000 after purchasing an additional 9,800 shares during the period. Finally, Moran Wealth Management LLC increased its position in shares of GE Aerospace by 10.5% during the first quarter. Moran Wealth Management LLC now owns 1,503 shares of the company’s stock valued at $301,000 after purchasing an additional 143 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

GE Aerospace stock opened at $306.26 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $323.05 billion, a P/E ratio of 40.89, a P/E/G ratio of 3.11 and a beta of 1.49. The business’s fifty day moving average is $288.46 and its two-hundred day moving average is $253.82. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s payout ratio is currently 19.23%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GE. UBS Group set a $366.00 price objective on GE Aerospace and gave the company a “buy” rating in a research report on Wednesday. Sanford C. Bernstein boosted their price target on GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Barclays boosted their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $284.27.

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.