Harbour Trust & Investment Management Co Makes New Investment in GE Aerospace $GE

Harbour Trust & Investment Management Co purchased a new position in shares of GE Aerospace (NYSE:GE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 948 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds also recently modified their holdings of the company. Old North State Wealth Management LLC increased 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 worth $542,000 after buying an additional 39 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of GE Aerospace by 18.0% in the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after purchasing an additional 39 shares in the last quarter. Webster Bank N. A. increased its holdings in shares of GE Aerospace by 2.1% in the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after purchasing an additional 41 shares in the last quarter. Pacific Sage Partners LLC increased its holdings in shares of GE Aerospace by 3.5% in the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after purchasing an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC increased its holdings in shares of GE Aerospace by 1.9% in the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock valued at $585,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GE. Citigroup reaffirmed a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. UBS Group lifted 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 stock an “outperform” rating in a research report on Friday, July 18th. Finally, Jefferies Financial Group lifted their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

GE Aerospace Trading Up 2.1%

GE opened at $297.47 on Tuesday. The stock has a market capitalization of $315.45 billion, a P/E ratio of 41.49, a P/E/G ratio of 3.14 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 firm’s fifty day simple moving average is $283.87 and its 200 day simple moving average is $248.35. 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 data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue was up 21.2% compared to the same quarter last year. 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 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s 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.