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

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

A number of other institutional investors have also recently made changes to their positions in the stock. IMG Wealth Management Inc. lifted its position in GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after purchasing an additional 59 shares during the period. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the 1st quarter valued at $28,000. Nova Wealth Management Inc. bought a new position in shares of GE Aerospace during the 1st quarter valued at $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace in the 1st quarter worth $30,000. Finally, Financial Network Wealth Advisors LLC boosted its stake in shares of GE Aerospace by 81.9% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock worth $34,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.7%

Shares of NYSE:GE opened at $307.28 on Friday. The stock has a 50 day moving average of $296.88 and a 200 day moving average of $264.57. The company has a market cap of $324.13 billion, a PE ratio of 41.03, a price-to-earnings-growth 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 12-month low of $159.36 and a 12-month high of $316.67.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 EPS 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 company had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter last year, the business earned $1.15 EPS. The firm’s revenue 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. As a group, equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were issued 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 is currently 19.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. TD Cowen upped their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Citigroup reissued a “buy” rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada boosted their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Bank of America upped their target price on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a 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. According to MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $301.27.

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.