Penobscot Wealth Management Invests $214,000 in GE Aerospace $GE

Penobscot Wealth Management purchased a new position in shares of GE Aerospace (NYSE:GE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 832 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the first quarter valued at approximately $28,000. Nova Wealth Management Inc. bought a new stake in GE Aerospace in the first quarter valued at approximately $29,000. IMG Wealth Management Inc. boosted its holdings in GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after acquiring an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in GE Aerospace in the first quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in GE Aerospace in the first quarter valued at approximately $33,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

GE Aerospace stock opened at $303.97 on Monday. The stock has a market capitalization of $320.63 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 3.14 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.53. The stock’s 50 day moving average price is $289.19 and its two-hundred day moving average price is $255.82. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08.

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

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is currently 19.23%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GE shares. Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wolfe Research upped their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. UBS Group set a $366.00 target price on GE Aerospace and gave the company a “buy” rating in a report on Wednesday. Citigroup reiterated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus 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.