Prentice Wealth Management LLC Acquires 672 Shares of GE Aerospace $GE

Prentice Wealth Management LLC increased its holdings in shares of GE Aerospace (NYSE:GE) by 25.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,336 shares of the company’s stock after acquiring an additional 672 shares during the period. Prentice Wealth Management LLC’s holdings in GE Aerospace were worth $859,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. increased its holdings in GE Aerospace by 113.5% during the 2nd quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after purchasing an additional 59 shares during the period. IMA Advisory Services Inc. purchased a new position in GE Aerospace during the 1st quarter worth $28,000. Nova Wealth Management Inc. purchased a new position in GE Aerospace during the 1st quarter worth $29,000. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the 1st quarter worth $30,000. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the 1st quarter worth $33,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 2.8%

Shares of NYSE:GE opened at $306.26 on Friday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.53. The business’s fifty day simple moving average is $288.46 and its 200-day simple moving average is $253.82. The company has a market capitalization of $323.05 billion, a PE ratio of 40.89, a P/E/G ratio of 3.11 and a beta of 1.49. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.99.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. During the same period last year, the business posted $1.15 EPS. The business’s revenue was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict 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, October 27th. Stockholders of record on Monday, September 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. The Goldman Sachs Group raised their price objective on GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 10th. TD Cowen raised their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Wolfe Research raised their price objective on GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Finally, Sanford C. Bernstein lifted their price target on GE Aerospace from $343.00 to $374.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $284.27.

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.