Meridian Wealth Management LLC Raises Stake in GE Aerospace $GE

Meridian Wealth Management LLC lifted its stake in shares of GE Aerospace (NYSE:GE) by 16.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,373 shares of the company’s stock after purchasing an additional 3,303 shares during the quarter. Meridian Wealth Management LLC’s holdings in GE Aerospace were worth $6,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Terril Brothers Inc. increased its holdings in GE Aerospace by 2.7% in the second quarter. Terril Brothers Inc. now owns 1,406 shares of the company’s stock valued at $362,000 after buying an additional 37 shares in the last quarter. Old North State Wealth Management LLC grew its holdings in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after acquiring an additional 39 shares during the period. Stephens Consulting LLC increased its stake in GE Aerospace by 18.0% in the 2nd 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. Francis Financial Inc. raised its holdings in GE Aerospace by 3.3% during the second quarter. Francis Financial Inc. now owns 1,215 shares of the company’s stock worth $313,000 after purchasing an additional 39 shares during the last quarter. Finally, Webster Bank N. A. boosted its position in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Wolfe Research raised their target price on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Jefferies Financial Group lifted their target price 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. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, TD Cowen raised their price objective on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.27.

GE Aerospace Stock Up 0.1%

Shares of NYSE GE opened at $304.50 on Friday. The stock has a market capitalization of $321.19 billion, a PE ratio of 40.65, a P/E/G ratio of 3.09 and a beta of 1.56. 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 fifty day moving average of $299.92 and a 200-day moving average of $267.93. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67.

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

GE Aerospace Dividend Announcement

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