DAVENPORT & Co LLC Grows Stock Holdings in GE Aerospace $GE

DAVENPORT & Co LLC raised its position in shares of GE Aerospace (NYSE:GE) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,948 shares of the company’s stock after buying an additional 244 shares during the period. DAVENPORT & Co LLC’s holdings in GE Aerospace were worth $6,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GE. GQG Partners LLC purchased a new position in shares of GE Aerospace during the first quarter worth $1,606,840,000. Nuveen LLC purchased a new position in GE Aerospace in the first quarter valued at $777,075,000. Amundi boosted its holdings in GE Aerospace by 124.0% in the first quarter. Amundi now owns 3,200,479 shares of the company’s stock valued at $600,506,000 after purchasing an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in GE Aerospace by 7,406.4% in the first quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock valued at $242,624,000 after purchasing an additional 1,196,060 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 1.3%

GE Aerospace stock opened at $302.12 on Wednesday. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market cap of $320.37 billion, a PE ratio of 42.14, a P/E/G ratio of 3.21 and a beta of 1.49. The stock’s fifty day moving average is $281.84 and its two-hundred day moving average is $245.55.

GE Aerospace (NYSE:GE) last posted 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 return on equity of 31.32% and a net margin of 18.64%.The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. GE Aerospace’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, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Saturday, September 27th. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Royal Bank Of Canada raised their price target on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Twelve 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.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.92.

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.