WASHINGTON TRUST Co Has $1.22 Million Stock Holdings in GE Aerospace $GE

WASHINGTON TRUST Co decreased its stake in shares of GE Aerospace (NYSE:GE) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,736 shares of the company’s stock after selling 265 shares during the period. WASHINGTON TRUST Co’s holdings in GE Aerospace were worth $1,219,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of GE Aerospace in the first quarter valued at approximately $1,606,840,000. Nuveen LLC acquired a new position in GE Aerospace in the 1st quarter valued at $777,075,000. Amundi increased its position in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after buying an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD increased its position in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after buying an additional 1,492,486 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of GE Aerospace by 7,406.4% during the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock worth $242,624,000 after buying an additional 1,196,060 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. The Goldman Sachs Group raised their price objective on GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $301.27.

GE Aerospace Stock Down 1.6%

Shares of NYSE GE opened at $304.15 on Friday. The company has a market cap of $320.82 billion, a price-to-earnings ratio of 40.61, 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. The stock has a 50-day moving average price of $299.42 and a two-hundred day moving average price of $267.21. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping 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 firm had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company’s 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. As a group, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders 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 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.