Franklin Resources Inc. Acquires 190,777 Shares of GE Aerospace $GE

Franklin Resources Inc. grew its holdings in shares of GE Aerospace (NYSE:GE) by 12.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,679,966 shares of the company’s stock after buying an additional 190,777 shares during the quarter. Franklin Resources Inc. owned approximately 0.16% of GE Aerospace worth $432,406,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. IMG Wealth Management Inc. increased its position in shares of GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the first quarter worth $28,000. Nova Wealth Management Inc. bought a new stake in GE Aerospace during the first quarter worth $29,000. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace during the first quarter worth approximately $30,000. Finally, Financial Network Wealth Advisors LLC increased its stake in shares of GE Aerospace by 81.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 77 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GE shares. The Goldman Sachs Group upped their price objective on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Bank of America raised their price target on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. UBS Group set a $366.00 price objective on shares of GE Aerospace and gave the company a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, BNP Paribas raised GE Aerospace to a “strong sell” rating in a report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and an average price target of $301.27.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the transaction, the senior vice president owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

GE Aerospace Stock Performance

NYSE GE opened at $287.29 on Friday. The firm’s 50 day simple moving average is $301.45 and its 200 day simple moving average is $271.08. The firm has a market capitalization of $303.04 billion, a price-to-earnings ratio of 38.36, a P/E/G 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 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, topping the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion during 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 company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were paid a $0.36 dividend. The ex-dividend date of this dividend 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 19.23%.

About GE Aerospace

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.