Harbor Capital Advisors Inc. Sells 89 Shares of GE Aerospace $GE

Harbor Capital Advisors Inc. reduced its stake in GE Aerospace (NYSE:GE) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 15,736 shares of the company’s stock after selling 89 shares during the period. Harbor Capital Advisors Inc.’s holdings in GE Aerospace were worth $4,050,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GE. Putney Financial Group LLC bought a new stake in shares of GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace in the first quarter valued at approximately $28,000. Copia Wealth Management increased its stake in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. acquired a new stake in GE Aerospace in the first quarter worth $29,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace during the first quarter worth $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GE shares. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Citigroup reissued a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, UBS Group upped their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.92.

GE Aerospace Stock Up 2.2%

GE opened at $293.01 on Wednesday. The stock’s fifty day simple moving average is $271.00 and its 200 day simple moving average is $235.11. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $294.74. The stock has a market cap of $310.72 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 3.09 and a beta of 1.48. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is 20.08%.

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.