AGF Management Ltd. Sells 3,739 Shares of GE Aerospace $GE

AGF Management Ltd. reduced its position in shares of GE Aerospace (NYSE:GE) by 23.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,099 shares of the company’s stock after selling 3,739 shares during the quarter. AGF Management Ltd.’s holdings in GE Aerospace were worth $3,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth about $28,000. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the 1st quarter valued at about $29,000. IMG Wealth Management Inc. raised its position in GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after purchasing an additional 59 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in GE Aerospace during the 1st quarter valued at approximately $30,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in GE Aerospace by 81.9% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock worth $34,000 after buying 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%

GE Aerospace stock opened at $307.28 on Monday. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67. The company has a market capitalization of $324.13 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. The business’s fifty day simple moving average is $296.88 and its two-hundred day simple moving average is $265.06. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 34.01% and a net margin of 18.34%.The company’s revenue was up 26.4% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities analysts predict 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. Shareholders of record on Monday, September 29th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s payout ratio is 19.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GE shares. 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 research note on Monday, September 22nd. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a report on Monday, October 27th. Bank of America upped their price objective on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Citigroup reaffirmed a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $301.27.

GE Aerospace Company 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.