Zions Bancorporation National Association UT Trims Position in GE Aerospace $GE

Zions Bancorporation National Association UT trimmed its position in shares of GE Aerospace (NYSE:GE) by 12.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,524 shares of the company’s stock after selling 373 shares during the period. Zions Bancorporation National Association UT’s holdings in GE Aerospace were worth $650,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GE. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of GE Aerospace by 3.0% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,428 shares of the company’s stock valued at $1,140,000 after acquiring an additional 127 shares in the last quarter. Summit Asset Management LLC bought a new stake in GE Aerospace during the 2nd quarter valued at approximately $234,000. Midwest Trust Co bought a new stake in GE Aerospace during the 2nd quarter valued at approximately $8,540,000. Acadian Asset Management LLC lifted its holdings in GE Aerospace by 43.4% in the 2nd quarter. Acadian Asset Management LLC now owns 245,862 shares of the company’s stock worth $63,276,000 after purchasing an additional 74,395 shares in the last quarter. Finally, 1ST Source Bank boosted its stake in GE Aerospace by 1.4% in the 2nd quarter. 1ST Source Bank now owns 10,746 shares of the company’s stock worth $2,766,000 after purchasing an additional 145 shares during the period. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Up 1.5%

GE stock opened at $311.75 on Tuesday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $316.67. The stock has a market capitalization of $328.84 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. 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 firm’s fifty day simple moving average is $297.61 and its two-hundred day simple moving average is $265.87.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the business earned $1.15 EPS. 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 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was 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 is currently 19.23%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GE shares. Citigroup reiterated a “buy” rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $350.00 price target on shares of GE Aerospace in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and an average price target 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.