GE Aerospace $GE Stock Position Decreased by RNC Capital Management LLC

RNC Capital Management LLC cut its position in shares of GE Aerospace (NYSE:GE) by 32.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003 shares of the company’s stock after selling 475 shares during the period. RNC Capital Management LLC’s holdings in GE Aerospace were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter worth about $28,000. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter worth about $29,000. IMG Wealth Management Inc. raised its stake in shares of GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace during the 1st quarter worth about $30,000. Finally, First Pacific Financial raised its stake in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $306.26 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $288.46 and its two-hundred day moving average is $253.82. The company has a market cap of $323.05 billion, a P/E ratio of 40.89, a P/E/G ratio of 3.11 and a beta of 1.49. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.53.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GE shares. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Sanford C. Bernstein raised their price objective on GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Citigroup reissued a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. The Goldman Sachs Group raised their price objective on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $284.27.

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.