B. Riley Wealth Advisors Inc. Makes New $2.64 Million Investment in GE Aerospace $GE

B. Riley Wealth Advisors Inc. purchased a new position in shares of GE Aerospace (NYSE:GE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,268 shares of the company’s stock, valued at approximately $2,643,000.

Other hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. lifted its position in GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock worth $437,000 after acquiring an additional 331 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of GE Aerospace by 17.1% in the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after purchasing an additional 1,201 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in shares of GE Aerospace by 1.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 159,682 shares of the company’s stock worth $41,101,000 after purchasing an additional 2,779 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 worth $46,876,000 after purchasing an additional 11,873 shares during the last quarter. Finally, Vigilare Wealth Management bought a new stake in GE Aerospace during the 2nd quarter valued at approximately $627,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity at GE Aerospace

In related news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the completion of the transaction, the senior vice president owned 150,434 shares in the company, valued at $44,785,706.14. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

GE Aerospace Trading Up 4.1%

Shares of GE stock opened at $300.23 on Monday. The firm has a fifty day moving average of $299.55 and a 200-day moving average of $278.48. The stock has a market cap of $316.69 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 2.31 and a beta of 1.40. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. 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 posted its 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. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is presently 19.23%.

Analyst Ratings Changes

Several brokerages have commented on GE. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Zacks Research lowered shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Bank of America upped their target price on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of GE Aerospace from $300.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $309.94.

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.