GE Aerospace $GE Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC lowered its stake in shares of GE Aerospace (NYSE:GE) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,257 shares of the company’s stock after selling 247 shares during the quarter. Modera Wealth Management LLC’s holdings in GE Aerospace were worth $2,897,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in shares of GE Aerospace during the 1st quarter valued at about $28,000. Nova Wealth Management Inc. acquired a new stake in GE Aerospace during the first quarter worth about $29,000. IMG Wealth Management Inc. raised its position in GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after acquiring an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the first quarter valued at approximately $30,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in GE Aerospace by 81.9% in the first quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 77 shares during the period. 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. The Goldman Sachs Group boosted their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Citigroup reiterated a “buy” rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Bank of America increased their target price on GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $301.27.

GE Aerospace Stock Up 0.7%

GE stock opened at $307.28 on Friday. The stock has a market cap of $324.13 billion, a P/E ratio of 41.03, a PEG ratio of 3.09 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 0.76 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. The company’s 50 day moving average is $296.88 and its two-hundred day moving average is $264.04.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.29 billion. During the same period in the previous year, the company 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. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

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.