Chapin Davis Inc. Raises Position in GE Aerospace $GE

Chapin Davis Inc. raised its position in GE Aerospace (NYSE:GE) by 642.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,332 shares of the company’s stock after buying an additional 14,998 shares during the period. GE Aerospace comprises about 1.3% of Chapin Davis Inc.’s portfolio, making the stock its 18th largest holding. Chapin Davis Inc.’s holdings in GE Aerospace were worth $5,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GE. Long Run Wealth Advisors LLC acquired a new stake in shares of GE Aerospace in the third quarter worth approximately $234,000. Central Valley Advisors LLC lifted its holdings in GE Aerospace by 54.6% in the 3rd quarter. Central Valley Advisors LLC now owns 2,335 shares of the company’s stock valued at $702,000 after purchasing an additional 825 shares in the last quarter. Park Edge Advisors LLC boosted its stake in GE Aerospace by 4.4% during the 3rd quarter. Park Edge Advisors LLC now owns 6,854 shares of the company’s stock worth $2,062,000 after purchasing an additional 289 shares during the last quarter. Riversedge Advisors LLC purchased a new stake in shares of GE Aerospace during the third quarter worth $414,000. Finally, Sheets Smith Investment Management raised its position in shares of GE Aerospace by 17.7% in the third quarter. Sheets Smith Investment Management now owns 7,558 shares of the company’s stock valued at $2,274,000 after buying an additional 1,138 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total value of $2,381,680.00. Following the transaction, the senior vice president owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup started coverage on shares of GE Aerospace in a research report on Thursday, December 11th. They set a “buy” rating and a $386.00 price target on the stock. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. TD Cowen upped their price target on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Susquehanna started coverage on GE Aerospace in a research report on Thursday, December 4th. They set a “positive” rating and a $350.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Sixteen analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $309.94.

GE Aerospace Stock Up 3.3%

Shares of NYSE GE opened at $301.76 on Friday. The company has a market capitalization of $318.30 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.26 and a beta of 1.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The company has a 50 day simple moving average of $299.40 and a 200-day simple moving average of $279.50. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.67.

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

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, December 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 29th. GE Aerospace’s dividend payout ratio (DPR) is presently 19.23%.

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.