Kovack Advisors Inc. Cuts Stake in GE Aerospace $GE

Kovack Advisors Inc. lowered its position in shares of GE Aerospace (NYSE:GE) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,087 shares of the company’s stock after selling 159 shares during the period. Kovack Advisors Inc.’s holdings in GE Aerospace were worth $2,339,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. boosted its position 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 purchasing an additional 59 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter valued at about $28,000. Nova Wealth Management Inc. bought a new stake in GE Aerospace during the first quarter valued at about $29,000. Wealth Preservation Advisors LLC bought a new stake in GE Aerospace during the first quarter valued at about $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in GE Aerospace during the first quarter valued at about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE GE opened at $310.64 on Friday. 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 company has a market cap of $327.67 billion, a PE ratio of 41.47, a P/E/G ratio of 3.09 and a beta of 1.49. The business has a 50-day simple moving average of $292.75 and a two-hundred day simple moving average of $258.88. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $316.67.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter last year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Monday, September 29th were issued a dividend of $0.36 per share. 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 19.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GE shares. Bank of America raised their price objective on GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank Of Canada raised their price objective on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. UBS Group set a $366.00 price objective on GE Aerospace and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group raised their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, The Goldman Sachs Group raised their price target on GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and an average target price of $301.27.

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.