Penobscot Investment Management Company Inc. Increases Stock Position in GE Aerospace $GE

Penobscot Investment Management Company Inc. grew its position in GE Aerospace (NYSE:GE) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,323 shares of the company’s stock after purchasing an additional 425 shares during the period. Penobscot Investment Management Company Inc.’s holdings in GE Aerospace were worth $2,142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace in the first quarter valued at about $28,000. Copia Wealth Management raised its holdings in shares of GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace in the first quarter valued at about $29,000. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at about $30,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $297.40 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $315.38 billion, a PE ratio of 41.48, a P/E/G ratio of 3.22 and a beta of 1.49. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25. The company has a 50-day moving average price of $280.65 and a two-hundred day moving average price of $243.95.

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

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

Wall Street Analyst Weigh In

Several analysts have recently commented on GE shares. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a report on Saturday, September 27th. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.