ZEGA Investments LLC Takes $1.09 Million Position in GE Aerospace $GE

ZEGA Investments LLC purchased a new position in GE Aerospace (NYSE:GE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,621 shares of the company’s stock, valued at approximately $1,089,000.

Several other hedge funds have also made changes to their positions in the stock. Ameriflex Group Inc. raised its holdings in shares of GE Aerospace by 23.5% in the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after purchasing an additional 331 shares during the last quarter. Diversified Trust Co boosted its holdings in GE Aerospace by 21.3% during the third quarter. Diversified Trust Co now owns 32,021 shares of the company’s stock worth $9,633,000 after purchasing an additional 5,625 shares during the last quarter. Cadinha & Co. LLC grew its position in GE Aerospace by 154.8% in the third quarter. Cadinha & Co. LLC now owns 97,280 shares of the company’s stock valued at $29,264,000 after purchasing an additional 59,106 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in GE Aerospace by 1.8% in 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. Finally, Czech National Bank increased its stake in GE Aerospace by 3.3% in the 3rd quarter. Czech National Bank now owns 269,330 shares of the company’s stock valued at $81,020,000 after buying an additional 8,668 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $324.18 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $332.79. The firm has a market capitalization of $341.95 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 2.20 and a beta of 1.40. The stock’s 50 day moving average is $303.59 and its 200-day moving average is $288.60.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 34.01% and a net margin of 18.34%.The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 29th. GE Aerospace’s dividend payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. BNP Paribas Exane began coverage on shares of GE Aerospace in a report on Tuesday, November 18th. They set an “underperform” rating for the company. Wolfe Research upped their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada lifted their price target on GE Aerospace from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $309.94.

Insider Activity

In other news, SVP Russell Stokes sold 8,000 shares of the company’s 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 transaction, the senior vice president owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This represents a 5.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

GE Aerospace Profile

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.