Griffin Asset Management Inc. Trims Holdings in GE Aerospace $GE

Griffin Asset Management Inc. trimmed its position in GE Aerospace (NYSE:GE) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,516 shares of the company’s stock after selling 179 shares during the quarter. Griffin Asset Management Inc.’s holdings in GE Aerospace were worth $4,508,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after acquiring an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC grew its holdings in GE Aerospace by 18.5% during the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company’s stock worth $5,066,000 after acquiring an additional 3,946 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in GE Aerospace by 181.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 6,623 shares of the company’s stock worth $1,326,000 after acquiring an additional 4,271 shares during the period. Finally, CVA Family Office LLC grew its holdings in GE Aerospace by 15.7% during the first quarter. CVA Family Office LLC now owns 2,385 shares of the company’s stock worth $477,000 after acquiring an additional 324 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research raised their target price on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $264.50.

GE Aerospace Stock Down 2.5%

Shares of GE opened at $291.96 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $307.25. The stock’s 50 day moving average is $283.44 and its two-hundred day moving average is $247.67. The firm has a market cap of $309.61 billion, a P/E ratio of 40.72, a PEG ratio of 3.14 and a beta of 1.49.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 return on equity of 31.32% and a net margin of 18.64%.GE Aerospace’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given 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 (DPR) is 20.08%.

GE Aerospace Company 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.