Arcus Capital Partners LLC Sells 2,048 Shares of GE Aerospace $GE

Key Points

• Arcus Capital Partners LLC sold 2,048 shares of GE Aerospace, reducing its stake by 17.8%, leaving it with 9,485 shares valued at approximately $2.44 million.
• Multiple analysts have raised their price targets for GE Aerospace, with Wells Fargo increasing it from $34 to $38 and Jefferies from $320 to $350, indicating a positive outlook for the company.
• GE Aerospace announced a quarterly dividend of $0.36 per share, reflecting an annualized yield of 0.5%, with the record date set for September 29th.

Arcus Capital Partners LLC lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 17.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,485 shares of the company's stock after selling 2,048 shares during the period. GE Aerospace makes up approximately 1.1% of Arcus Capital Partners LLC's portfolio, making the stock its 17th biggest holding. Arcus Capital Partners LLC's holdings in GE Aerospace were worth $2,441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after acquiring an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC boosted its holdings in GE Aerospace by 18.5% during the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company's stock worth $5,066,000 after purchasing an additional 3,946 shares during the last quarter. LongView Wealth Management bought a new stake in GE Aerospace in the 1st quarter worth about $285,000. Finally, Avior Wealth Management LLC grew its position in GE Aerospace by 4.8% in the 1st quarter. Avior Wealth Management LLC now owns 11,188 shares of the company's stock worth $2,239,000 after purchasing an additional 517 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Jefferies Financial Group boosted their price objective on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Citigroup reiterated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $267.13.

GE Aerospace Stock Performance

NYSE:GE opened at $300.60 on Friday. The company has a market capitalization of $318.77 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. The business has a 50 day moving average of $286.07 and a 200 day moving average of $250.77. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business 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 earned $1.20 EPS. The company's revenue was up 21.2% on a year-over-year basis. On average, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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

About GE Aerospace

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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