Edgestream Partners L.P. Boosts Stock Holdings in GE Aerospace $GE

Edgestream Partners L.P. lifted its position in GE Aerospace (NYSE:GE) by 218.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,915 shares of the company’s stock after acquiring an additional 6,798 shares during the quarter. Edgestream Partners L.P.’s holdings in GE Aerospace were worth $2,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Bare Financial Services Inc raised its position in shares of GE Aerospace by 81.1% in the second quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the period. IMG Wealth Management Inc. increased its stake in shares of GE Aerospace by 113.5% in 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 in the last quarter. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace in the 1st quarter valued at about $29,000. Wealth Preservation Advisors LLC acquired a new position in GE Aerospace in the 1st quarter worth about $30,000. Finally, Financial Network Wealth Advisors LLC boosted its position in GE Aerospace by 81.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.0%

Shares of GE opened at $291.49 on Friday. The stock has a 50 day moving average price of $300.74 and a 200 day moving average price of $275.69. GE Aerospace has a one year low of $159.36 and a one year 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. The stock has a market capitalization of $307.47 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 2.24 and a beta of 1.40.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The company 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 company posted $1.15 EPS. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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 paid 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 is Monday, December 29th. GE Aerospace’s dividend payout ratio is currently 19.23%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GE shares. JPMorgan Chase & Co. boosted their price objective on GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. TD Cowen lifted their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average price target of $304.31.

Insider Buying and Selling

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the 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 completion of the sale, the senior vice president owned 150,434 shares in the company, valued at approximately $44,785,706.14. This represents a 5.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

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.