Parsons Capital Management Inc. RI Has $1.74 Million Holdings in GE Aerospace $GE

Parsons Capital Management Inc. RI lessened its holdings in shares of GE Aerospace (NYSE:GE) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,759 shares of the company’s stock after selling 125 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in GE Aerospace were worth $1,740,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after buying an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD raised its stake in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after buying an additional 1,492,486 shares during the period. Invesco Ltd. raised its stake in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after buying an additional 54,765 shares during the period. GQG Partners LLC acquired a new stake in GE Aerospace during the 1st quarter worth $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in GE Aerospace by 6.8% during the 1st 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 buying an additional 491,207 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GE shares. Jefferies Financial Group increased their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $241.92.

GE Aerospace Price Performance

Shares of NYSE GE opened at $299.54 on Friday. The stock has a market capitalization of $317.64 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 3.24 and a beta of 1.49. The business has a 50-day moving average of $280.12 and a 200-day moving average of $243.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data 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. 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%.GE Aerospace’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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