GE Aerospace $GE Shares Bought by Drake & Associates LLC

Drake & Associates LLC raised its stake in GE Aerospace (NYSE:GE) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,172 shares of the company’s stock after purchasing an additional 156 shares during the period. Drake & Associates LLC’s holdings in GE Aerospace were worth $1,331,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in GE Aerospace by 0.8% during the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after buying an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of GE Aerospace by 6.3% in the 1st 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 acquiring an additional 1,492,486 shares during the last quarter. Invesco Ltd. raised its position in shares of GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock valued at $1,921,344,000 after acquiring an additional 54,765 shares in the last quarter. GQG Partners LLC bought a new position in GE Aerospace during the first quarter worth $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GE Aerospace by 6.8% in the first 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. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in 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 report on Monday, September 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a report on Saturday, September 27th. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $298.16 on Tuesday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a market capitalization of $316.18 billion, a price-to-earnings ratio of 41.58, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The business has a 50 day simple moving average of $281.20 and a 200 day simple moving average of $245.15.

GE Aerospace (NYSE:GE) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be issued a $0.36 dividend. 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 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.