Ascent Group LLC Sells 1,749 Shares of GE Aerospace $GE

Key Points

• Ascent Group LLC sold 1,749 shares of GE Aerospace, reducing its stake by 8.9%, now holding 17,806 shares valued at approximately $3.56 million.
• Research analysts have mixed ratings for GE Aerospace, with ten analysts giving a Buy rating, while others have recently downgraded it from "Buy" to "Neutral" or "Hold."
• GE Aerospace announced a quarterly dividend of $0.36, translating to an annual yield of 0.5%, with a payout ratio of 20.08%.

Ascent Group LLC lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,806 shares of the company's stock after selling 1,749 shares during the quarter. Ascent Group LLC's holdings in GE Aerospace were worth $3,564,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Truvestments Capital LLC grew its stake in GE Aerospace by 19.5% in the 1st quarter. Truvestments Capital LLC now owns 282 shares of the company's stock valued at $56,000 after buying an additional 46 shares in the last quarter. Sfmg LLC grew its stake in GE Aerospace by 2.4% in the 1st quarter. Sfmg LLC now owns 2,088 shares of the company's stock valued at $418,000 after buying an additional 48 shares in the last quarter. SGL Investment Advisors Inc. grew its stake in GE Aerospace by 3.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,413 shares of the company's stock valued at $303,000 after buying an additional 49 shares in the last quarter. Hudock Inc. grew its stake in GE Aerospace by 1.8% in the 1st quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares in the last quarter. Finally, First Pacific Financial grew its stake in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Finally, Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Down 1.2%

GE opened at $275.80 on Tuesday. The company has a fifty day moving average price of $266.62 and a 200-day moving average price of $231.90. The firm has a market capitalization of $292.47 billion, a P/E ratio of 38.47, a price-to-earnings-growth ratio of 3.00 and a beta of 1.48. 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 has a one year low of $159.36 and a one year high of $284.41.

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

GE Aerospace Announces Dividend

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

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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