Baxter Bros Inc. Cuts Holdings in GE Aerospace $GE

Baxter Bros Inc. decreased its position in shares of GE Aerospace (NYSE:GE) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,945 shares of the company’s stock after selling 1,071 shares during the period. GE Aerospace makes up approximately 1.4% of Baxter Bros Inc.’s investment portfolio, making the stock its 21st biggest position. Baxter Bros Inc.’s holdings in GE Aerospace were worth $11,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management lifted its holdings in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. Nova Wealth Management Inc. bought a new position in shares of GE Aerospace in the 1st quarter valued at about $29,000. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace in the 1st quarter valued at about $30,000. Finally, First Pacific Financial lifted its holdings in shares of GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays raised their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Zacks Research downgraded shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Finally, Jefferies Financial Group raised their price objective on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $251.31.

GE Aerospace Stock Performance

GE Aerospace stock opened at $302.56 on Thursday. The company has a 50 day moving average price of $282.43 and a 200-day moving average price of $245.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The company has a market capitalization of $320.85 billion, a PE ratio of 42.20, a P/E/G ratio of 3.25 and a beta of 1.49.

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 the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s 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. As a group, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

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.