Parsons Capital Management Inc. RI Sells 125 Shares of GE Aerospace $GE

Parsons Capital Management Inc. RI lowered its holdings in shares of GE Aerospace (NYSE:GE) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,759 shares of the company’s stock after selling 125 shares during the period. Parsons Capital Management Inc. RI’s holdings in GE Aerospace were worth $1,740,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Brighton Jones LLC grew its holdings in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock worth $2,003,000 after purchasing an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock worth $375,000 after purchasing an additional 150 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in GE Aerospace by 16.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,204 shares of the company’s stock worth $2,643,000 after acquiring an additional 1,912 shares during the last quarter. Triangle Securities Wealth Management boosted its holdings in shares of GE Aerospace by 3.6% during the first quarter. Triangle Securities Wealth Management now owns 2,702 shares of the company’s stock worth $541,000 after acquiring an additional 93 shares during the period. Finally, Apella Capital LLC boosted its holdings in shares of GE Aerospace by 34.0% during the first quarter. Apella Capital LLC now owns 4,290 shares of the company’s stock worth $803,000 after acquiring an additional 1,088 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Jefferies Financial Group boosted their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $241.92.

GE Aerospace Stock Down 0.4%

NYSE GE opened at $299.54 on Friday. 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 has a 1-year low of $159.36 and a 1-year high of $307.25. The company has a 50 day moving average of $280.12 and a 200-day moving average of $243.28. The company has a market cap of $317.64 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 3.24 and a beta of 1.49.

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

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s payout ratio is presently 20.08%.

GE Aerospace 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.