GE Aerospace $GE is Trustco Bank Corp N Y’s Largest Position

Trustco Bank Corp N Y grew its stake in shares of GE Aerospace (NYSE:GE) by 7.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 28,696 shares of the company’s stock after buying an additional 2,052 shares during the period. GE Aerospace comprises 7.2% of Trustco Bank Corp N Y’s portfolio, making the stock its biggest holding. Trustco Bank Corp N Y’s holdings in GE Aerospace were worth $7,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter worth about $28,000. Nova Wealth Management Inc. bought a new stake in shares of GE Aerospace during the first quarter valued at about $29,000. IMG Wealth Management Inc. lifted its holdings in shares of GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after buying an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the first quarter worth about $30,000. Finally, Financial Network Wealth Advisors LLC boosted its position in shares of GE Aerospace by 81.9% in the first quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 77 shares during the period. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on GE shares. Jefferies Financial Group increased their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wells Fargo & Company increased their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $350.00 target price on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $301.27.

GE Aerospace Trading Down 1.6%

Shares of GE stock opened at $304.15 on Friday. The business has a 50-day moving average price of $299.42 and a two-hundred day moving average price of $267.21. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.67. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The firm has a market cap of $320.82 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56.

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

GE Aerospace Announces Dividend

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

About GE Aerospace

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.