Atlantic Union Bankshares Corp Increases Position in GE Aerospace $GE

Atlantic Union Bankshares Corp increased its holdings in shares of GE Aerospace (NYSE:GE) by 320.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,004 shares of the company’s stock after acquiring an additional 5,337 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in GE Aerospace were worth $1,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GE. IMA Advisory Services Inc. bought a new position in GE Aerospace during the first quarter valued at about $28,000. Nova Wealth Management Inc. bought a new stake in GE Aerospace in the first quarter worth about $29,000. IMG Wealth Management Inc. boosted its stake in GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after acquiring an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace during the 1st quarter valued at approximately $30,000. Finally, Financial Network Wealth Advisors LLC grew its position in shares of GE Aerospace by 81.9% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 0.7%

Shares of GE Aerospace stock opened at $307.28 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The firm has a market cap of $324.13 billion, a PE ratio of 41.03, a PEG ratio of 3.09 and a beta of 1.56. The company has a 50 day simple moving average of $296.88 and a two-hundred day simple moving average of $264.04.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share 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%.The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Analysts expect that GE Aerospace will post 5.4 earnings per share 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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, September 29th. GE Aerospace’s payout ratio is presently 19.23%.

Analyst Ratings Changes

GE has been the subject of several research reports. Jefferies Financial Group increased their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Citigroup reaffirmed a “buy” rating and set a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, UBS Group set a $366.00 target price on shares of GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.