OLD Point Trust & Financial Services N A Reduces Stake in GE Aerospace $GE

OLD Point Trust & Financial Services N A reduced its stake in shares of GE Aerospace (NYSE:GE) by 30.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,195 shares of the company’s stock after selling 2,729 shares during the period. OLD Point Trust & Financial Services N A’s holdings in GE Aerospace were worth $1,864,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in GE Aerospace by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock valued at $23,677,180,000 after buying an additional 1,482,069 shares during the period. State Street Corp increased its position in GE Aerospace by 1.4% during the second quarter. State Street Corp now owns 44,268,912 shares of the company’s stock valued at $11,394,375,000 after acquiring an additional 613,866 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in GE Aerospace by 6.3% during 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 acquiring an additional 1,492,486 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of GE Aerospace by 3.1% in the second quarter. Geode Capital Management LLC now owns 24,113,967 shares of the company’s stock valued at $6,181,956,000 after acquiring an additional 724,559 shares during the period. Finally, Norges Bank bought a new stake in shares of GE Aerospace in the 2nd quarter worth about $3,408,828,000. 74.77% of the stock is owned by institutional investors.

Insider Transactions at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the transaction, the senior vice president owned 150,434 shares of the company’s stock, valued at approximately $44,785,706.14. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on GE. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wolfe Research boosted their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Susquehanna assumed coverage on GE Aerospace in a research note on Thursday, December 4th. They set a “positive” rating and a $350.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Sixteen 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 company has an average rating of “Moderate Buy” and a consensus target price of $309.94.

GE Aerospace Stock Down 2.2%

Shares of NYSE GE opened at $292.09 on Thursday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. The firm has a market capitalization of $308.10 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 2.31 and a beta of 1.40. The stock has a 50 day moving average price of $299.35 and a 200 day moving average price of $279.35. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share 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 during the quarter, compared to analyst estimates of $10.29 billion. During the same period in the previous year, the company posted $1.15 EPS. GE Aerospace’s 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. Sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, December 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is 19.23%.

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.