Envestnet Asset Management Inc. Purchases 85,684 Shares of GE Aerospace $GE

Envestnet Asset Management Inc. lifted its stake in GE Aerospace (NYSE:GE) by 6.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,349,097 shares of the company’s stock after purchasing an additional 85,684 shares during the quarter. Envestnet Asset Management Inc.’s holdings in GE Aerospace were worth $347,230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. increased its holdings in shares of GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after purchasing an additional 59 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $28,000. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GE. Wolfe Research raised their price target on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. UBS Group set a $366.00 target price on shares of GE Aerospace and gave the stock a “buy” rating in a report on Wednesday. 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 report on Friday, October 10th. Sanford C. Bernstein lifted their target price on shares of GE Aerospace from $343.00 to $374.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Jefferies Financial Group lifted their target price 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. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $284.27.

GE Aerospace Price Performance

Shares of GE stock opened at $303.97 on Monday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.53. The firm has a market capitalization of $320.63 billion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average of $289.19 and a 200-day moving average of $255.82.

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

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

About GE Aerospace

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.