CIBC Asset Management Inc Purchases 99,815 Shares of GE Aerospace $GE

CIBC Asset Management Inc grew its position in GE Aerospace (NYSE:GE) by 65.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 251,736 shares of the company’s stock after acquiring an additional 99,815 shares during the period. CIBC Asset Management Inc’s holdings in GE Aerospace were worth $77,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Ledyard National Bank boosted its position in shares of GE Aerospace by 1.2% in the third quarter. Ledyard National Bank now owns 2,754 shares of the company’s stock worth $828,000 after purchasing an additional 33 shares during the period. Hardy Reed LLC boosted its position in shares of GE Aerospace by 0.7% in the third quarter. Hardy Reed LLC now owns 4,999 shares of the company’s stock worth $1,504,000 after purchasing an additional 33 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of GE Aerospace by 1.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 3,474 shares of the company’s stock worth $1,070,000 after acquiring an additional 33 shares during the period. Montz Harcus Wealth Management LLC boosted its stake in shares of GE Aerospace by 3.6% in the fourth quarter. Montz Harcus Wealth Management LLC now owns 947 shares of the company’s stock worth $292,000 after acquiring an additional 33 shares during the period. Finally, Darwin Wealth Management LLC boosted its stake in shares of GE Aerospace by 2.0% in the fourth quarter. Darwin Wealth Management LLC now owns 1,699 shares of the company’s stock worth $523,000 after acquiring an additional 33 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $318.09 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.70 and a current ratio of 1.01. The firm has a fifty day moving average price of $296.32 and a 200 day moving average price of $305.74. GE Aerospace has a fifty-two week low of $232.24 and a fifty-two week high of $348.48. The firm has a market cap of $331.88 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 3.01 and a beta of 1.37.

GE Aerospace (NYSE:GE) last posted its earnings results on Tuesday, April 21st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.26. The company had revenue of $11.61 billion for the quarter, compared to the consensus estimate of $11.61 billion. GE Aerospace had a return on equity of 37.99% and a net margin of 17.86%.The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. GE Aerospace has set its FY 2026 guidance at 7.100-7.400 EPS. As a group, sell-side analysts expect that GE Aerospace will post 7.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. Sanford C. Bernstein upped their price objective on GE Aerospace from $374.00 to $405.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Wall Street Zen lowered GE Aerospace from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. BNP Paribas Exane dropped their price objective on GE Aerospace from $300.00 to $270.00 and set an “underperform” rating for the company in a research note on Thursday, May 14th. TD Cowen dropped their price objective on GE Aerospace from $350.00 to $330.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Morgan Stanley dropped their target price on shares of GE Aerospace from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $348.22.

About GE Aerospace

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.