GE Aerospace $GE Shares Sold by Columbia Asset Management

Columbia Asset Management lessened its position in shares of GE Aerospace (NYSE:GE) by 6.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,144 shares of the company’s stock after selling 519 shares during the period. Columbia Asset Management’s holdings in GE Aerospace were worth $1,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Old North State Wealth Management LLC boosted its stake in shares of GE Aerospace by 1.9% during the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. boosted its stake in shares of GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after purchasing an additional 41 shares during the last quarter. Pacific Sage Partners LLC boosted its stake in shares of GE Aerospace by 3.5% during the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after purchasing an additional 41 shares during the last quarter. Ascent Capital Management LLC boosted its stake in shares of GE Aerospace by 1.9% during the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after purchasing an additional 42 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. boosted its stake in shares of GE Aerospace by 1.1% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company’s stock worth $810,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and an average target price of $241.92.

GE Aerospace Trading Up 2.6%

GE opened at $301.18 on Wednesday. The firm has a market capitalization of $319.38 billion, a P/E ratio of 42.01, a P/E/G ratio of 3.16 and a beta of 1.48. The firm’s 50 day moving average is $278.71 and its 200-day moving average is $242.20. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for 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 business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date is 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 (DPR) is currently 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.