Aspen Investment Management Inc Buys 175 Shares of GE Aerospace $GE

Aspen Investment Management Inc grew its stake in shares of GE Aerospace (NYSE:GE) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,419 shares of the company’s stock after purchasing an additional 175 shares during the quarter. Aspen Investment Management Inc’s holdings in GE Aerospace were worth $623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highview Capital Management LLC DE raised its position in shares of GE Aerospace by 4.5% in the second quarter. Highview Capital Management LLC DE now owns 6,635 shares of the company’s stock valued at $1,708,000 after purchasing an additional 283 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of GE Aerospace by 8.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 3,794 shares of the company’s stock worth $977,000 after buying an additional 300 shares during the period. Wealthspire Advisors LLC grew its stake in GE Aerospace by 104.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 45,072 shares of the company’s stock valued at $11,601,000 after buying an additional 23,031 shares during the last quarter. Perennial Investment Advisors LLC raised its holdings in GE Aerospace by 1.1% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,671 shares of the company’s stock valued at $1,202,000 after acquiring an additional 49 shares during the period. Finally, Rockbridge Investment Management LCC raised its holdings in GE Aerospace by 240.4% in the 2nd quarter. Rockbridge Investment Management LCC now owns 9,285 shares of the company’s stock valued at $2,390,000 after acquiring an additional 6,557 shares during the period. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 1.3%

Shares of NYSE GE opened at $296.13 on Wednesday. The company has a market cap of $312.36 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 3.09 and a beta of 1.56. 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 has a 12 month low of $159.36 and a 12 month high of $316.67. The stock has a 50-day moving average price of $300.80 and a two-hundred day moving average price of $270.17.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.20. The company 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 firm’s 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. As a group, 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 declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is 19.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GE shares. The Goldman Sachs Group increased their target price on GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. UBS Group set a $366.00 price objective on GE Aerospace and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. Finally, Bank of America raised their price target on shares of GE Aerospace from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Aerospace presently has a consensus 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.