Essex LLC Has $5.22 Million Holdings in GE Aerospace $GE

Essex LLC lifted its holdings in GE Aerospace (NYSE:GE) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 20,297 shares of the company’s stock after purchasing an additional 147 shares during the period. GE Aerospace accounts for 1.0% of Essex LLC’s portfolio, making the stock its 21st biggest position. Essex LLC’s holdings in GE Aerospace were worth $5,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management boosted its position in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Nova Wealth Management Inc. bought a new position in GE Aerospace in the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC bought a new position in GE Aerospace in the first quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $33,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Jefferies Financial Group increased their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. 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 objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, TD Cowen raised their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

GE Aerospace Trading Up 0.9%

GE stock opened at $300.28 on Wednesday. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The stock has a market cap of $318.43 billion, a price-to-earnings ratio of 41.88, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The company has a fifty day moving average price of $284.44 and a two-hundred day moving average price of $248.71. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

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.