Assenagon Asset Management S.A. Sells 70 Shares of GE Aerospace $GE

Assenagon Asset Management S.A. trimmed its position in shares of GE Aerospace (NYSE:GE) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,725 shares of the company’s stock after selling 70 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GE Aerospace were worth $7,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management lifted its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. acquired a new position in shares of GE Aerospace during the 1st quarter worth approximately $29,000. Wealth Preservation Advisors LLC purchased a new position in shares of GE Aerospace during the 1st quarter worth $30,000. Finally, First Pacific Financial increased its holdings in shares of GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $305.50 on Wednesday. The stock has a fifty day moving average price of $275.21 and a 200 day moving average price of $238.60. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $323.97 billion, a PE ratio of 42.61, a P/E/G ratio of 3.24 and a beta of 1.48. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $305.78.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is 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 20.08%.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays raised their price target on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Jefferies Financial Group boosted their target price on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.92.

GE Aerospace 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.