Verity Asset Management Inc. Invests $435,000 in GE Aerospace $GE

Verity Asset Management Inc. acquired a new position in shares of GE Aerospace (NYSE:GE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,689 shares of the company’s stock, valued at approximately $435,000.

A number of other large investors have also modified their holdings of the stock. Hunter Associates Investment Management LLC increased its position in shares of GE Aerospace by 7.0% during the second quarter. Hunter Associates Investment Management LLC now owns 8,242 shares of the company’s stock worth $2,120,000 after acquiring an additional 538 shares during the period. Westside Investment Management Inc. increased its position in shares of GE Aerospace by 20.9% during the second quarter. Westside Investment Management Inc. now owns 1,506 shares of the company’s stock worth $386,000 after acquiring an additional 260 shares during the period. Burney Co. increased its position in shares of GE Aerospace by 31.4% during the second quarter. Burney Co. now owns 3,740 shares of the company’s stock worth $963,000 after acquiring an additional 894 shares during the period. MMA Asset Management LLC increased its position in shares of GE Aerospace by 35.8% during the second quarter. MMA Asset Management LLC now owns 2,960 shares of the company’s stock worth $762,000 after acquiring an additional 780 shares during the period. Finally, South Dakota Investment Council increased its position in shares of GE Aerospace by 40.1% during the second quarter. South Dakota Investment Council now owns 22,715 shares of the company’s stock worth $5,847,000 after acquiring an additional 6,506 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $309.09 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $293.60 and a 200 day moving average price of $260.80. The company has a market cap of $326.03 billion, a P/E ratio of 41.27, a PEG ratio of 3.09 and a beta of 1.49. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67.

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

GE Aerospace Announces Dividend

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

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently 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.