Essex Financial Services Inc. Decreases Stock Position in GE Aerospace $GE

Essex Financial Services Inc. lowered its stake in GE Aerospace (NYSE:GE) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,308 shares of the company’s stock after selling 602 shares during the quarter. Essex Financial Services Inc.’s holdings in GE Aerospace were worth $6,771,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the 1st quarter worth $28,000. Copia Wealth Management increased its holdings in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after buying an additional 142 shares during the last quarter. Nova Wealth Management Inc. bought a new stake in shares of GE Aerospace in the 1st quarter worth about $29,000. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace in the 1st quarter worth about $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $300.56 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $318.73 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.29 and a beta of 1.48. The firm’s 50-day moving average is $275.89 and its 200 day moving average is $239.03. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $307.25.

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

GE Aerospace Announces Dividend

The business also recently announced 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 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 is currently 20.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GE shares. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group boosted their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Finally, Citigroup restated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average 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.