Pekin Hardy Strauss Inc. Sells 304 Shares of GE Aerospace $GE

Pekin Hardy Strauss Inc. lowered its holdings in GE Aerospace (NYSE:GE) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,197 shares of the company’s stock after selling 304 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in GE Aerospace were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GE. Vanguard Group Inc. boosted its holdings in shares of GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after acquiring an additional 692,124 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of GE Aerospace by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Invesco Ltd. lifted its position in GE Aerospace by 0.6% during the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the period. GQG Partners LLC purchased a new stake in GE Aerospace in the first quarter worth approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock worth $1,536,387,000 after purchasing an additional 491,207 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $307.28 on Friday. The stock has a market cap of $324.13 billion, a P/E ratio of 41.03, a P/E/G ratio of 3.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The stock’s fifty day moving average is $296.88 and its 200 day moving average is $264.04. GE Aerospace has a one year low of $159.36 and a one year high of $316.67.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 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 business had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays increased their price target 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 price objective on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. TD Cowen increased their target price on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their target price on GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group set a $366.00 price target on GE Aerospace and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.27.

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.