GE Aerospace $GE Shares Purchased by MMA Asset Management LLC

MMA Asset Management LLC raised its position in GE Aerospace (NYSE:GE) by 35.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,960 shares of the company’s stock after purchasing an additional 780 shares during the period. MMA Asset Management LLC’s holdings in GE Aerospace were worth $762,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. South Dakota Investment Council grew its stake in GE Aerospace by 40.1% in the 2nd quarter. South Dakota Investment Council now owns 22,715 shares of the company’s stock valued at $5,847,000 after acquiring an additional 6,506 shares during the last quarter. TIAA Trust National Association grew its position in shares of GE Aerospace by 0.8% in the second quarter. TIAA Trust National Association now owns 123,420 shares of the company’s stock valued at $31,765,000 after purchasing an additional 986 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of GE Aerospace during the 2nd quarter worth approximately $281,000. Zweig DiMenna Associates LLC acquired a new position in shares of GE Aerospace during the 2nd quarter worth approximately $3,063,000. Finally, Greater Midwest Financial Group LLC acquired a new position in shares of GE Aerospace during the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE opened at $309.09 on Monday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. 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 cap of $326.03 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 3.09 and a beta of 1.49. The business’s 50 day moving average is $293.60 and its two-hundred day moving average is $260.80.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 EPS 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 company had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. During the same quarter last year, the firm earned $1.15 EPS. The business’s 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. Analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GE. Jefferies Financial Group raised their price target on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Wolfe Research lifted their price target on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. TD Cowen lifted their price objective on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus 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.