First Bancorp Inc ME Has $1.45 Million Holdings in GE Aerospace $GE

First Bancorp Inc ME cut its holdings in GE Aerospace (NYSE:GE) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,640 shares of the company’s stock after selling 140 shares during the quarter. GE Aerospace makes up 0.8% of First Bancorp Inc ME’s holdings, making the stock its 28th biggest holding. First Bancorp Inc ME’s holdings in GE Aerospace were worth $1,452,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC raised its position in GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after purchasing an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC raised its position in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after purchasing an additional 150 shares during the last quarter. GAMMA Investing LLC raised its position in GE Aerospace by 18.5% in the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company’s stock valued at $5,066,000 after purchasing an additional 3,946 shares during the last quarter. LongView Wealth Management bought a new position in GE Aerospace in the first quarter valued at about $285,000. Finally, Avior Wealth Management LLC raised its position in GE Aerospace by 4.8% in the first quarter. Avior Wealth Management LLC now owns 11,188 shares of the company’s stock valued at $2,239,000 after purchasing an additional 517 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GE. Wolfe Research increased their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. TD Cowen increased their target price on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $267.13.

GE Aerospace Trading Up 0.3%

NYSE GE opened at $300.60 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The business has a 50 day simple moving average of $286.07 and a 200 day simple moving average of $250.77. The stock has a market capitalization of $318.77 billion, a P/E ratio of 41.92, a P/E/G ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio is presently 20.08%.

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.