Addison Advisors LLC Boosts Stake in GE Aerospace $GE

Addison Advisors LLC boosted its stake in GE Aerospace (NYSE:GE) by 16.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,885 shares of the company’s stock after purchasing an additional 834 shares during the period. Addison Advisors LLC’s holdings in GE Aerospace were worth $1,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Ameriflex Group Inc. boosted its position in shares of GE Aerospace by 23.5% during the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock worth $437,000 after buying an additional 331 shares during the period. Smartleaf Asset Management LLC increased its position in GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock valued at $1,647,000 after acquiring an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. acquired a new stake in GE Aerospace in the 1st quarter valued at approximately $203,000. Mirae Asset Global Investments Co. Ltd. raised its stake in GE Aerospace by 7.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock valued at $46,876,000 after acquiring an additional 11,873 shares in the last quarter. Finally, Leisure Capital Management acquired a new position in GE Aerospace during the 1st quarter worth $222,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GE shares. Royal Bank Of Canada increased their price target on GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped their price target on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Price Performance

NYSE GE opened at $307.28 on Monday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67. The business’s fifty day moving average is $296.88 and its two-hundred day moving average is $265.06. The stock has a market capitalization of $324.13 billion, a P/E ratio of 41.03, a P/E/G ratio of 3.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.20. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts forecast 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 issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, September 29th. GE Aerospace’s payout ratio is presently 19.23%.

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.