Bruce G. Allen Investments LLC Trims Stock Holdings in GE Aerospace $GE

Bruce G. Allen Investments LLC reduced its holdings in shares of GE Aerospace (NYSE:GE) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,361 shares of the company’s stock after selling 68 shares during the quarter. GE Aerospace accounts for about 0.9% of Bruce G. Allen Investments LLC’s investment portfolio, making the stock its 14th largest holding. Bruce G. Allen Investments LLC’s holdings in GE Aerospace were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Webster Bank N. A. lifted its position in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after purchasing an additional 41 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in GE Aerospace by 1.1% in the first quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company’s stock valued at $810,000 after buying an additional 43 shares during the last quarter. Truvestments Capital LLC raised its stake in GE Aerospace by 19.5% during the first quarter. Truvestments Capital LLC now owns 282 shares of the company’s stock valued at $56,000 after buying an additional 46 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in GE Aerospace by 2.8% during the 2nd quarter. First National Bank Sioux Falls now owns 1,663 shares of the company’s stock worth $428,000 after buying an additional 46 shares during the last quarter. Finally, Sfmg LLC lifted its holdings in GE Aerospace by 2.4% during the 1st quarter. Sfmg LLC now owns 2,088 shares of the company’s stock worth $418,000 after buying an additional 48 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GE shares. Citigroup reissued a “buy” rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group raised 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. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, Wells Fargo & Company increased their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $232.92.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $293.01 on Wednesday. The stock has a market cap of $310.72 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 3.09 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $294.74. The stock’s 50 day moving average price is $271.00 and its 200 day moving average price is $235.11.

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. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, July 7th. GE Aerospace’s dividend payout ratio is presently 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.