Oppenheimer Asset Management Inc. Acquires 5,289 Shares of GE Aerospace $GE

Oppenheimer Asset Management Inc. increased its holdings in shares of GE Aerospace (NYSE:GE) by 35.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,333 shares of the company’s stock after acquiring an additional 5,289 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GE Aerospace were worth $5,234,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GE. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter valued at $28,000. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace in the 1st quarter valued at $29,000. IMG Wealth Management Inc. lifted its stake in shares of GE Aerospace by 113.5% in the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after purchasing an additional 59 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of GE Aerospace in the 1st quarter valued at $30,000. Finally, O Brien Wealth Partners LLC acquired a new position in shares of GE Aerospace in the 1st quarter valued at $33,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

NYSE:GE opened at $313.06 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The stock’s 50-day simple moving average is $290.08 and its 200 day simple moving average is $256.70. The company has a market cap of $330.22 billion, a P/E ratio of 41.80, a P/E/G ratio of 3.14 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.53.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The business 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 34.01% and a net margin of 18.34%.GE Aerospace’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter 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. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s payout ratio is currently 19.23%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Citigroup reissued a “buy” rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada increased their price target on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Wolfe Research raised their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.27.

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.