910 Shares in GE Aerospace $GE Acquired by Summit Asset Management LLC

Summit Asset Management LLC purchased a new position in GE Aerospace (NYSE:GE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 910 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors have also added to or reduced their stakes in the company. Terril Brothers Inc. lifted 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 in the last quarter. Old North State Wealth Management LLC increased its holdings in GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock valued at $542,000 after acquiring an additional 39 shares during the last quarter. Stephens Consulting LLC lifted its stake in GE Aerospace by 18.0% in the 2nd quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock worth $66,000 after purchasing an additional 39 shares in the last quarter. Webster Bank N. A. boosted its holdings in shares of GE Aerospace by 2.1% during the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after purchasing an additional 41 shares during the last quarter. Finally, Pacific Sage Partners LLC boosted its holdings in shares of GE Aerospace by 3.5% during the 2nd 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 last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GE shares. Royal Bank Of Canada lifted their target price on GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. TD Cowen raised their price target on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. UBS Group set a $366.00 price objective on GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Wells Fargo & Company boosted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.27.

GE Aerospace Price Performance

NYSE:GE opened at $307.28 on Friday. The firm has a market capitalization of $324.13 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 3.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The business has a 50 day simple moving average of $296.88 and a 200-day simple moving average of $264.57. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The firm had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Monday, September 29th were given a dividend of $0.36 per share. 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 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.