Strs Ohio Buys 73,555 Shares of GE Aerospace $GE

Strs Ohio boosted its stake in GE Aerospace (NYSE:GE) by 21.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 423,381 shares of the company’s stock after acquiring an additional 73,555 shares during the period. Strs Ohio’s holdings in GE Aerospace were worth $108,974,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Old North State Wealth Management LLC grew its stake in GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock valued at $542,000 after acquiring an additional 39 shares in the last quarter. Stephens Consulting LLC grew its stake in GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after acquiring an additional 39 shares in the last quarter. Webster Bank N. A. grew its stake in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after acquiring an additional 41 shares in the last quarter. Pacific Sage Partners LLC grew its stake in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after acquiring an additional 41 shares in the last quarter. Finally, Ascent Capital Management LLC grew its stake in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock worth $585,000 after buying an additional 42 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Performance

Shares of NYSE GE opened at $313.92 on Thursday. The firm’s 50-day moving average price is $291.90 and its 200-day moving average price is $258.52. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The company has a market cap of $331.13 billion, a PE ratio of 41.91, a PEG ratio of 3.04 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the business earned $1.15 EPS. The business’s quarterly revenue was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, September 29th. GE Aerospace’s dividend payout ratio is 19.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays boosted their price target 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. Wolfe Research boosted their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. TD Cowen upped their price target on shares of GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Citigroup restated a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, UBS Group set a $366.00 price objective on shares of GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $301.27.

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.