OLD Point Trust & Financial Services N A Sells 452 Shares of GE Aerospace $GE

OLD Point Trust & Financial Services N A reduced its stake in shares of GE Aerospace (NYSE:GE) by 4.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,924 shares of the company’s stock after selling 452 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in GE Aerospace were worth $2,297,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GE. IMA Advisory Services Inc. bought a new position in GE Aerospace during the first quarter valued at about $28,000. Nova Wealth Management Inc. bought a new position in GE Aerospace during the first quarter valued at about $29,000. IMG Wealth Management Inc. raised its holdings 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 buying an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace in the first quarter worth about $30,000. Finally, First Pacific Financial increased its stake in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on GE shares. TD Cowen lifted their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Sanford C. Bernstein lifted their price objective on GE Aerospace from $343.00 to $374.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Citigroup restated a “buy” rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. UBS Group set a $366.00 price target on GE Aerospace and gave the company a “buy” rating in a research note on Wednesday. Finally, Wolfe Research boosted their price target on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.27.

GE Aerospace Stock Down 2.9%

NYSE GE opened at $297.64 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average is $287.74 and its two-hundred day moving average is $252.86. The company has a market capitalization of $315.63 billion, a price-to-earnings ratio of 39.74, a PEG ratio of 3.20 and a beta of 1.49. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $316.53.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The company had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 33.81% 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 previous year, the business earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s payout ratio is presently 19.23%.

GE Aerospace Company 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.