Adage Capital Partners GP L.L.C. Decreases Stake in GE Aerospace $GE

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in GE Aerospace by 15.9%, selling 150,815 shares, leaving it with 797,483 shares valued at approximately $159.6 million.
• Analysts have had mixed reviews on GE Aerospace, with Barclays raising its target price from $230 to $295, while Wall Street Zen downgraded the stock from "buy" to "hold."
• GE Aerospace recently declared a quarterly dividend of $0.36 per share, representing an annual yield of 0.5%, with a dividend payout ratio of 20.08%.

Adage Capital Partners GP L.L.C. reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 797,483 shares of the company's stock after selling 150,815 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.07% of GE Aerospace worth $159,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GE. GQG Partners LLC acquired a new position in GE Aerospace in the 1st quarter worth approximately $1,606,840,000. GAMMA Investing LLC increased its holdings in GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock worth $1,013,959,000 after buying an additional 5,044,632 shares during the period. Nuveen LLC acquired a new position in GE Aerospace in the 1st quarter worth approximately $777,075,000. Janus Henderson Group PLC increased its holdings in GE Aerospace by 87.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after buying an additional 1,673,365 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after buying an additional 1,492,486 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of NYSE:GE traded up $6.00 during midday trading on Thursday, reaching $281.93. 4,590,019 shares of the company's stock traded hands, compared to its average volume of 5,913,537. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $282.36. The company has a market cap of $298.97 billion, a P/E ratio of 39.32, a PEG ratio of 2.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a fifty day simple moving average of $265.14 and a two-hundred day simple moving average of $230.08.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $1.20 EPS. The business's revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a dividend of $0.36 per share. The ex-dividend date was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Analyst Ratings Changes

GE has been the topic of several research reports. Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace 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.