Allspring Global Investments Holdings LLC Lowers Position in GE Aerospace $GE

Key Points

• Allspring Global Investments Holdings LLC decreased its stake in GE Aerospace by 14.5%, resulting in ownership of 829,929 shares worth approximately $206.67 million at the end of the second quarter.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, exceeding estimates by $0.23, with revenue reaching $10.15 billion, a 21.2% increase from the previous year.
• The company announced a quarterly dividend of $0.36 per share, representing a 0.5% yield and a payout ratio of 20.08%.

Allspring Global Investments Holdings LLC cut its stake in GE Aerospace (NYSE:GE - Free Report) by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 829,929 shares of the company's stock after selling 140,429 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of GE Aerospace worth $206,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the first quarter worth about $28,000. Copia Wealth Management increased its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. bought a new position in shares of GE Aerospace during the first quarter valued at approximately $29,000. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace during the first quarter valued at approximately $30,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of GE Aerospace during the first quarter valued at approximately $33,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of GE opened at $291.96 on Monday. The company has a market capitalization of $309.61 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $283.44 and a 200 day moving average of $247.67. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $307.25.

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

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GE. Zacks Research downgraded shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. TD Cowen raised their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group raised their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $264.50.

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.

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