GE Aerospace $GE Shares Purchased by Petra Financial Advisors Inc.

Petra Financial Advisors Inc. boosted its stake in GE Aerospace (NYSE:GE) by 105.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,997 shares of the company’s stock after buying an additional 3,075 shares during the quarter. GE Aerospace makes up about 1.0% of Petra Financial Advisors Inc.’s holdings, making the stock its 24th biggest position. Petra Financial Advisors Inc.’s holdings in GE Aerospace were worth $1,543,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Ameriflex Group Inc. boosted its stake in shares of GE Aerospace by 23.5% during the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after acquiring an additional 331 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after purchasing an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new position in GE Aerospace in the 1st quarter valued at about $203,000. Concurrent Investment Advisors LLC boosted its stake in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of GE Aerospace by 7.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock worth $46,876,000 after buying an additional 11,873 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen increased their price target on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.27.

GE Aerospace Trading Up 3.0%

GE stock opened at $313.06 on Tuesday. 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 company has a market cap of $330.22 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 3.14 and a beta of 1.49. The business has a fifty day simple moving average of $290.08 and a 200-day simple moving average of $256.70. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53.

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

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were 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 was Monday, September 29th. GE Aerospace’s dividend payout ratio is 19.23%.

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.