Advisors Capital Management LLC Grows Holdings in GE Aerospace $GE

Advisors Capital Management LLC boosted its stake in shares of GE Aerospace (NYSE:GE) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,726 shares of the company’s stock after buying an additional 205 shares during the quarter. Advisors Capital Management LLC’s holdings in GE Aerospace were worth $7,909,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GE. Ignite Planners LLC raised its position in GE Aerospace by 12.6% during the 2nd quarter. Ignite Planners LLC now owns 4,160 shares of the company’s stock valued at $1,095,000 after purchasing an additional 464 shares in the last quarter. Davies Financial Advisors Inc. purchased a new position in shares of GE Aerospace during the second quarter valued at $204,000. Nixon Peabody Trust Co. increased its stake in shares of GE Aerospace by 9.1% during the second quarter. Nixon Peabody Trust Co. now owns 3,084 shares of the company’s stock valued at $794,000 after buying an additional 257 shares during the period. Trustco Bank Corp N Y raised its holdings in shares of GE Aerospace by 7.7% in the second quarter. Trustco Bank Corp N Y now owns 28,696 shares of the company’s stock valued at $7,386,000 after acquiring an additional 2,052 shares in the last quarter. Finally, Evolution Wealth Advisors LLC lifted its stake in GE Aerospace by 26.4% in the second quarter. Evolution Wealth Advisors LLC now owns 1,302 shares of the company’s stock worth $335,000 after acquiring an additional 272 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.1%

GE stock opened at $304.50 on Friday. The stock has a market capitalization of $321.19 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.67. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $299.92 and a 200 day moving average of $267.93.

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

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors 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 of this dividend was Monday, September 29th. GE Aerospace’s dividend payout ratio (DPR) is 19.23%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group set a $366.00 price target on shares of GE Aerospace and gave the company a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, Zacks Research lowered GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $301.27.

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.