Summitry LLC Purchases Shares of 2,721 GE Aerospace $GE

Summitry LLC purchased a new position in GE Aerospace (NYSE:GE) in the third quarter, HoldingsChannel reports. The firm purchased 2,721 shares of the company’s stock, valued at approximately $819,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. Diversified Trust Co lifted its position in GE Aerospace by 21.3% in the third quarter. Diversified Trust Co now owns 32,021 shares of the company’s stock worth $9,633,000 after buying an additional 5,625 shares during the last quarter. Cadinha & Co. LLC increased its position in GE Aerospace by 154.8% during the third quarter. Cadinha & Co. LLC now owns 97,280 shares of the company’s stock valued at $29,264,000 after acquiring an additional 59,106 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of 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 acquiring an additional 2,779 shares during the period. Czech National Bank lifted its holdings in shares of GE Aerospace by 3.3% in the 3rd quarter. Czech National Bank now owns 269,330 shares of the company’s stock worth $81,020,000 after acquiring an additional 8,668 shares during the last quarter. Finally, Phoenix Financial Ltd. boosted its stake in shares of GE Aerospace by 34.3% during the 3rd quarter. Phoenix Financial Ltd. now owns 22,632 shares of the company’s stock worth $6,808,000 after purchasing an additional 5,775 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.8%

Shares of NYSE GE opened at $315.24 on Monday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $332.79. The firm has a market capitalization of $330.63 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 2.91 and a beta of 1.40. The stock has a 50 day moving average price of $309.55 and a 200 day moving average price of $297.39. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.04.

GE Aerospace (NYSE:GE) last issued its earnings results on Thursday, January 22nd. The company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. GE Aerospace had a return on equity of 35.52% and a net margin of 18.98%.The business had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.27 billion. During the same period in the previous year, the company posted $1.32 EPS. GE Aerospace’s revenue was up 17.6% on a year-over-year basis. GE Aerospace has set its FY 2026 guidance at 7.100-7.400 EPS. Sell-side analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, March 9th will be issued a $0.47 dividend. The ex-dividend date is Monday, March 9th. This is an increase from GE Aerospace’s previous quarterly dividend of $0.36. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. GE Aerospace’s dividend payout ratio is presently 17.69%.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Zacks Research raised shares of GE Aerospace from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group increased their price target on GE Aerospace from $338.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Monday, October 27th. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday, January 24th. Finally, UBS Group set a $374.00 target price on GE Aerospace and gave the stock a “buy” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $319.00.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 30,363 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $306.47, for a total value of $9,305,348.61. Following the completion of the sale, the senior vice president owned 150,434 shares of the company’s stock, valued at approximately $46,103,507.98. This represents a 16.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Amy L. Gowder sold 4,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $305.73, for a total transaction of $1,222,920.00. Following the transaction, the senior vice president owned 16,535 shares in the company, valued at approximately $5,055,245.55. This represents a 19.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,398 shares of company stock valued at $13,837,171 over the last three months. 0.21% of the stock is owned by company insiders.

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.