Naviter Wealth LLC Reduces Stock Position in GE Aerospace $GE

Naviter Wealth LLC reduced its holdings in shares of GE Aerospace (NYSE:GE) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,156 shares of the company’s stock after selling 456 shares during the quarter. Naviter Wealth LLC’s holdings in GE Aerospace were worth $2,871,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. lifted its stake in shares of GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after buying an additional 331 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake 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 valued at $1,647,000 after buying an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace during the 1st quarter valued at approximately $203,000. Concurrent Investment Advisors LLC lifted its stake 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 valued at $8,065,000 after buying an additional 8,245 shares in the last quarter. Finally, Global Assets Advisory LLC lifted its stake 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 valued at $2,751,000 after buying an additional 9,580 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE Aerospace stock opened at $297.47 on Tuesday. The firm’s fifty day moving average price is $283.87 and its 200-day moving average price is $248.35. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $315.45 billion, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25.

GE Aerospace (NYSE:GE) last posted 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 firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

Analysts Set New Price Targets

Several research firms have issued reports on GE. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. UBS Group increased their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Royal Bank Of Canada increased their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 target price on shares of GE Aerospace in a research note on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.13.

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.