Cassaday & Co Wealth Management LLC Increases Position in GE Aerospace $GE

Cassaday & Co Wealth Management LLC raised its stake in shares of GE Aerospace (NYSE:GE) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,022 shares of the company’s stock after purchasing an additional 403 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in GE Aerospace were worth $1,293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Ameriflex Group Inc. grew its holdings in GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock worth $437,000 after acquiring an additional 331 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after acquiring an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the 1st quarter worth $203,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in GE Aerospace by 7.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock worth $46,876,000 after acquiring an additional 11,873 shares in the last quarter. Finally, Leisure Capital Management acquired a new position in GE Aerospace during the 1st quarter worth $222,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GE shares. UBS Group set a $366.00 price objective on shares of GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group raised their price objective 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a report on Wednesday, October 8th. Bank of America raised their price objective on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Monday, October 27th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, GE Aerospace has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Trading Down 0.1%

NYSE GE opened at $308.74 on Tuesday. GE Aerospace has a one year low of $159.36 and a one year high of $316.67. The company has a 50-day simple moving average of $294.44 and a 200-day simple moving average of $261.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The firm has a market capitalization of $325.67 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49.

GE Aerospace (NYSE:GE) last posted its quarterly 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. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same period in the previous year, the business posted $1.15 EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were given a $0.36 dividend. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 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.