Waterfront Wealth Inc. Grows Stock Holdings in GE Aerospace $GE

Waterfront Wealth Inc. grew its holdings in GE Aerospace (NYSE:GE) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,345 shares of the company’s stock after acquiring an additional 154 shares during the period. Waterfront Wealth Inc.’s holdings in GE Aerospace were worth $604,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 626 Financial LLC acquired a new position in shares of GE Aerospace in the 2nd quarter valued at $219,000. Analyst IMS Investment Management Services Ltd. lifted its stake in shares of GE Aerospace by 105.6% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,241 shares of the company’s stock valued at $1,606,000 after purchasing an additional 3,206 shares during the period. WNY Asset Management LLC lifted its stake in shares of GE Aerospace by 6.9% in the 2nd quarter. WNY Asset Management LLC now owns 3,228 shares of the company’s stock valued at $831,000 after purchasing an additional 207 shares during the period. Wealth Management Associates Inc. lifted its stake in shares of GE Aerospace by 19.2% in the 2nd quarter. Wealth Management Associates Inc. now owns 5,791 shares of the company’s stock valued at $1,490,000 after purchasing an additional 934 shares during the period. Finally, Quaker Wealth Management LLC lifted its stake in shares of GE Aerospace by 230.8% in the 2nd quarter. Quaker Wealth Management LLC now owns 437 shares of the company’s stock valued at $112,000 after purchasing an additional 771 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

GE Aerospace stock opened at $313.92 on Thursday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. The firm has a market capitalization of $331.13 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 3.04 and a beta of 1.49. The company has a fifty day simple moving average of $291.90 and a 200-day simple moving average of $258.52. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The company’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, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GE. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Bank of America upped their price objective on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Wolfe Research upped their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and a consensus target price of $301.27.

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.