Summit Investment Advisors Inc. Sells 601 Shares of GE Aerospace $GE

Summit Investment Advisors Inc. reduced its position in GE Aerospace (NYSE:GE) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,595 shares of the company’s stock after selling 601 shares during the quarter. Summit Investment Advisors Inc.’s holdings in GE Aerospace were worth $2,521,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Terril Brothers Inc. raised its holdings in shares of GE Aerospace by 2.7% in the second quarter. Terril Brothers Inc. now owns 1,406 shares of the company’s stock worth $362,000 after buying an additional 37 shares during the period. Old North State Wealth Management LLC increased its stake in GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after purchasing an additional 39 shares during the period. Stephens Consulting LLC increased its stake in GE Aerospace by 18.0% in the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock worth $66,000 after purchasing an additional 39 shares during the period. Webster Bank N. A. lifted its position in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock worth $507,000 after purchasing an additional 41 shares during the last quarter. Finally, Pacific Sage Partners LLC boosted its stake in shares of GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group boosted their price target on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $301.27.

GE Aerospace Stock Performance

Shares of GE stock opened at $307.28 on Friday. The firm has a market cap of $324.13 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 3.09 and a beta of 1.56. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. 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’s 50 day moving average is $296.88 and its 200 day moving average is $264.57.

GE Aerospace (NYSE:GE) last announced its 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 business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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