GE Aerospace $GE Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its position in shares of GE Aerospace (NYSE:GE) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,948 shares of the company’s stock after acquiring an additional 244 shares during the quarter. DAVENPORT & Co LLC’s holdings in GE Aerospace were worth $6,936,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GE. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the first quarter valued at approximately $28,000. Copia Wealth Management raised its holdings in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace during the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace during the first quarter valued at approximately $30,000. Finally, First Pacific Financial raised its holdings in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Saturday, September 27th. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Royal Bank Of Canada increased their price target on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, Jefferies Financial Group increased their price target on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.92.

GE Aerospace Price Performance

GE stock opened at $302.12 on Wednesday. The business has a fifty day moving average of $281.84 and a two-hundred day moving average of $245.55. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $320.37 billion, a price-to-earnings ratio of 42.14, a price-to-earnings-growth ratio of 3.21 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25.

GE Aerospace (NYSE:GE) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during 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 quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

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.