Ascent Group LLC Has $3.70 Million Position in GE Aerospace $GE

Ascent Group LLC lowered its stake in GE Aerospace (NYSE:GE) by 19.2% in the second quarter, HoldingsChannel.com reports. The firm owned 14,392 shares of the company’s stock after selling 3,414 shares during the quarter. Ascent Group LLC’s holdings in GE Aerospace were worth $3,704,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after acquiring an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. acquired a new stake in GE Aerospace during the 1st quarter worth $203,000. Concurrent Investment Advisors LLC grew its holdings in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after acquiring an additional 8,245 shares during the period. Global Assets Advisory LLC grew its holdings in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after acquiring an additional 9,580 shares during the period. Finally, Leisure Capital Management acquired a new stake in GE Aerospace during the 1st quarter worth $222,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GE. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Jefferies Financial Group lifted their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. UBS Group lifted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $241.92.

GE Aerospace Stock Down 0.7%

Shares of GE stock opened at $297.40 on Friday. 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 firm’s fifty day moving average price is $280.65 and its two-hundred day moving average price is $244.21. The firm has a market capitalization of $315.38 billion, a P/E ratio of 41.48, a PEG ratio of 3.20 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $1.20 EPS. 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 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

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.