New Covenant Trust Company N.A. Has $636,000 Stake in GE Aerospace $GE

New Covenant Trust Company N.A. trimmed its stake in shares of GE Aerospace (NYSE:GE) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 2,499 shares of the company’s stock after selling 55 shares during the period. New Covenant Trust Company N.A.’s holdings in GE Aerospace were worth $636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after buying an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. bought a new stake in shares of GE Aerospace during the first quarter worth approximately $203,000. Sendero Wealth Management LLC raised its stake in shares of GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after buying an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after buying an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC raised its stake in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after buying an additional 9,580 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Royal Bank Of Canada upped their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Finally, Citigroup reaffirmed a “buy” rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $241.92.

GE Aerospace Stock Down 0.7%

Shares of NYSE:GE opened at $294.97 on Monday. The company has a market capitalization of $312.80 billion, a PE ratio of 41.14, a PEG ratio of 3.17 and a beta of 1.48. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $307.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a 50 day moving average price of $277.26 and a two-hundred day moving average price of $241.12.

GE Aerospace (NYSE:GE) last released its quarterly earnings results 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 net margin of 18.64% and a return on equity of 31.32%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared 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. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio is 20.08%.

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.