Atika Capital Management LLC Sells 6,700 Shares of GE Aerospace $GE

Key Points

• Atika Capital Management LLC reduced its stake in GE Aerospace by 12.1% in the first quarter, selling 6,700 shares and now holding 48,500 shares, which represents 1.4% of its portfolio.
• Several large investors increased their positions in GE Aerospace, including Sendero Wealth Management LLC, which boosted its holdings by 526.6%, now owning 15,008 shares valued at $3,004,000.
• Analysts are optimistic about GE Aerospace, with multiple firms upgrading their ratings, and the stock has a consensus rating of "Moderate Buy" with an average price target of $232.92.

Atika Capital Management LLC decreased its position in GE Aerospace (NYSE:GE - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,500 shares of the company's stock after selling 6,700 shares during the quarter. GE Aerospace accounts for 1.4% of Atika Capital Management LLC's portfolio, making the stock its 26th biggest holding. Atika Capital Management LLC's holdings in GE Aerospace were worth $9,707,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Rainey & Randall Wealth Advisors Inc. bought a new stake in GE Aerospace in the 1st quarter worth approximately $203,000. Sendero Wealth Management LLC boosted its holdings in shares of GE Aerospace by 526.6% in the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the period. Global Assets Advisory LLC boosted its holdings in shares of GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Leisure Capital Management purchased a new position in shares of GE Aerospace in the 1st quarter worth approximately $222,000. Institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GE shares. UBS Group lifted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen upgraded GE Aerospace from a "hold" rating to 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, Royal Bank Of Canada lifted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Price Performance

Shares of GE stock opened at $266.9230 on Thursday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $281.50. The stock has a market capitalization of $283.06 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 2.86 and a beta of 1.44. The stock has a fifty day simple moving average of $258.69 and a two-hundred day simple moving average of $225.50. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

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

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend 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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