Dumont & Blake Investment Advisors LLC Reduces Holdings in GE Aerospace $GE

Dumont & Blake Investment Advisors LLC trimmed its holdings in shares of GE Aerospace (NYSE:GE) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 971 shares of the company’s stock after selling 57 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in GE Aerospace were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GE. Brighton Jones LLC increased its stake in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in GE Aerospace by 7.1% in the 4th 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 stake in GE Aerospace by 18.5% in the 1st 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. LongView Wealth Management purchased a new stake in GE Aerospace in the 1st quarter worth approximately $285,000. Finally, Avior Wealth Management LLC grew its stake in GE Aerospace by 4.8% in the 1st quarter. Avior Wealth Management LLC now owns 11,188 shares of the company’s stock worth $2,239,000 after acquiring an additional 517 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.3%

Shares of NYSE GE opened at $300.60 on Friday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The firm has a fifty day moving average of $286.07 and a 200-day moving average of $250.77. The stock has a market capitalization of $318.77 billion, a PE ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49. 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 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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The business’s quarterly revenue was up 21.2% on a year-over-year basis. On average, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio is 20.08%.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group lifted their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Citigroup reaffirmed a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wolfe Research lifted their target price on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

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.