Glass Wealth Management Co LLC Sells 1,005 Shares of GE Aerospace $GE

Glass Wealth Management Co LLC trimmed its position in shares of GE Aerospace (NYSE:GE) by 22.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,400 shares of the company’s stock after selling 1,005 shares during the period. Glass Wealth Management Co LLC’s holdings in GE Aerospace were worth $875,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Old North State Wealth Management LLC lifted its holdings in shares of GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock valued at $542,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. raised its stake in GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after buying an additional 41 shares during the last quarter. Pacific Sage Partners LLC grew its position in shares of GE Aerospace by 3.5% during the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after acquiring an additional 41 shares during the period. Ascent Capital Management LLC grew its position in shares of GE Aerospace by 1.9% during the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock valued at $585,000 after acquiring an additional 42 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in shares of GE Aerospace by 1.1% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company’s stock valued at $810,000 after acquiring an additional 43 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Down 0.7%

NYSE GE opened at $297.40 on Monday. The company has a fifty day simple moving average of $280.65 and a two-hundred day simple moving average of $244.50. The stock has a market cap of $315.38 billion, a P/E ratio of 41.48, a P/E/G ratio of 3.20 and a beta of 1.49. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. 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 (NYSE:GE) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the company posted $1.20 earnings per share. The business’s quarterly revenue 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, analysts forecast 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. Investors of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent analyst reports. Zacks Research downgraded shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Jefferies Financial Group upped their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.92.

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.