Spire Wealth Management Sells 4,679 Shares of GE Aerospace $GE

Spire Wealth Management lessened its position in GE Aerospace (NYSE:GE) by 36.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,248 shares of the company’s stock after selling 4,679 shares during the period. Spire Wealth Management’s holdings in GE Aerospace were worth $2,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Old North State Wealth Management LLC grew its position in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock valued at $542,000 after acquiring an additional 39 shares during the period. Stephens Consulting LLC grew its position in shares of GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after acquiring an additional 39 shares during the period. Webster Bank N. A. grew its position in shares of GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after acquiring an additional 41 shares during the period. Pacific Sage Partners LLC lifted its stake in shares of GE Aerospace by 3.5% during the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after buying an additional 41 shares during the last quarter. Finally, Ascent Capital Management LLC lifted its stake in shares of GE Aerospace by 1.9% during the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after buying an additional 42 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $310.64 on Friday. The company has a 50-day simple moving average of $292.75 and a two-hundred day simple moving average of $258.88. The stock has a market capitalization of $327.67 billion, a price-to-earnings ratio of 41.47, a price-to-earnings-growth ratio of 3.09 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. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $316.67.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 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 analysts’ expectations of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts forecast 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. Shareholders of record on Monday, September 29th were issued 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 payout ratio is presently 19.23%.

Analysts Set New Price Targets

GE has been the subject of a number of research reports. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. TD Cowen raised their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research note on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.27.

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.