Wesbanco Bank Inc. Acquires 863 Shares of GE Aerospace $GE

Wesbanco Bank Inc. raised its holdings in shares of GE Aerospace (NYSE:GE) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,245 shares of the company’s stock after purchasing an additional 863 shares during the period. Wesbanco Bank Inc.’s holdings in GE Aerospace were worth $13,190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after acquiring an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of GE Aerospace during the 1st quarter worth approximately $203,000. Sendero Wealth Management LLC grew its holdings in shares of GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after acquiring an additional 12,613 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after acquiring an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC grew its holdings in shares of GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after acquiring an additional 9,580 shares during the period. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

GE Aerospace stock opened at $281.67 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $298.69 billion, a P/E ratio of 39.28, a PEG ratio of 3.03 and a beta of 1.48. The stock’s 50 day moving average is $269.33 and its 200 day moving average is $233.93. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $286.91.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup reiterated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.92.

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.