Trustmark Bank Trust Department Boosts Stock Position in GE Aerospace $GE

Trustmark Bank Trust Department raised its stake in shares of GE Aerospace (NYSE:GE) by 32.5% in the second quarter, Holdings Channel reports. The institutional investor owned 2,587 shares of the company’s stock after buying an additional 634 shares during the quarter. Trustmark Bank Trust Department’s holdings in GE Aerospace were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. grew its stake in shares of GE Aerospace by 23.5% during the 2nd quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after acquiring an additional 331 shares during the period. Smartleaf Asset Management LLC raised its stake in GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after acquiring an additional 1,201 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in GE Aerospace by 1.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 159,682 shares of the company’s stock valued at $41,101,000 after purchasing an additional 2,779 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of GE Aerospace by 7.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock worth $46,876,000 after purchasing an additional 11,873 shares during the period. Finally, Leisure Capital Management purchased a new stake in shares of GE Aerospace in the first quarter worth $222,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GE Aerospace

In related news, SVP Russell Stokes sold 8,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the sale, the senior vice president owned 150,434 shares in the company, valued at approximately $44,785,706.14. This represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GE shares. BNP Paribas upgraded GE Aerospace to a “strong sell” rating in a research report on Tuesday, November 18th. Wolfe Research increased their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $350.00 target price on shares of GE Aerospace in a research report on Wednesday, October 8th. BNP Paribas Exane initiated coverage on shares of GE Aerospace in a report on Tuesday, November 18th. They issued an “underperform” rating on the stock. Finally, UBS Group set a $366.00 price objective on shares of GE Aerospace and gave the company a “buy” rating in a report on Wednesday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $301.27.

GE Aerospace Stock Performance

Shares of NYSE:GE opened at $298.27 on Monday. The firm has a fifty day simple moving average of $301.68 and a two-hundred day simple moving average of $274.67. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $316.67. 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 stock has a market capitalization of $314.62 billion, a P/E ratio of 39.82, a PEG ratio of 3.09 and a beta of 1.56.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The firm had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were issued a $0.36 dividend. The ex-dividend date was 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 19.23%.

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.