Kornitzer Capital Management Inc. KS Sells 1,522 Shares of GE Aerospace $GE

Kornitzer Capital Management Inc. KS lessened its holdings in shares of GE Aerospace (NYSE:GE) by 17.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,116 shares of the company’s stock after selling 1,522 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in GE Aerospace were worth $1,832,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GE. Old North State Wealth Management LLC boosted its position in shares of GE Aerospace by 1.9% in the 2nd quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after purchasing an additional 39 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of GE Aerospace by 18.0% in the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock worth $66,000 after acquiring an additional 39 shares during the last quarter. Webster Bank N. A. increased its holdings in shares of GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC raised its position in shares of GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock worth $314,000 after purchasing an additional 41 shares during the last quarter. Finally, Ascent Capital Management LLC boosted its stake in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after purchasing an additional 42 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

NYSE GE opened at $303.97 on Monday. The company has a 50-day moving average price of $289.19 and a 200-day moving average price of $255.82. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.53. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $320.63 billion, a P/E ratio of 40.58, a PEG ratio of 3.14 and a beta of 1.49.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $10.29 billion. During the same period in the previous year, the business posted $1.15 earnings per share. The firm’s quarterly 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. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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 issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is currently 19.23%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup reaffirmed a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. The Goldman Sachs Group raised their price target on shares of GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group set a $366.00 price target on GE Aerospace and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $284.27.

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.