Spartan Planning & Wealth Management Sells 140 Shares of GE Aerospace $GE

Spartan Planning & Wealth Management reduced its stake in shares of GE Aerospace (NYSE:GE) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,978 shares of the company’s stock after selling 140 shares during the quarter. Spartan Planning & Wealth Management’s holdings in GE Aerospace were worth $509,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GE shares. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Jefferies Financial Group raised their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wall Street Zen lowered shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, Royal Bank Of Canada raised their price objective 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. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $241.92.

GE Aerospace Price Performance

GE stock opened at $293.57 on Tuesday. The firm has a 50 day moving average price of $277.88 and a 200-day moving average price of $241.79. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The firm has a market capitalization of $311.31 billion, a price-to-earnings ratio of 40.94, a PEG ratio of 3.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. 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 (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.