GE Aerospace $GE Shares Sold by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP reduced its stake in GE Aerospace by 8.6%, selling 4,905 shares, which now represent 1.0% of its overall portfolio valued at approximately $10.4 million.
• Several analysts upgraded GE Aerospace's stock ratings, with Barclays raising their price target from $230 to $295, reflecting increasing optimism surrounding the company's performance.
• GE Aerospace reported quarterly earnings of $1.66 per share, exceeding analysts' expectations by $0.23, and had a notable revenue increase of 21.2% year-over-year, showcasing strong operational growth.

Concentric Capital Strategies LP reduced its position in shares of GE Aerospace (NYSE:GE - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,192 shares of the company's stock after selling 4,905 shares during the period. GE Aerospace accounts for about 1.0% of Concentric Capital Strategies LP's portfolio, making the stock its 16th largest holding. Concentric Capital Strategies LP's holdings in GE Aerospace were worth $10,446,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace in the first quarter valued at approximately $28,000. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% in 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. Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the first quarter valued at approximately $30,000. Finally, First Pacific Financial grew its position in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Trading Down 0.9%

NYSE:GE traded down $2.62 during trading hours on Friday, reaching $279.65. 4,950,277 shares of the stock were exchanged, compared to its average volume of 4,005,729. 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 business has a 50-day moving average of $266.25 and a two-hundred day moving average of $231.21. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $284.41. The company has a market capitalization of $296.55 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 3.00 and a beta of 1.48.

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, topping 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 company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The firm's revenue 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, equities analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. Wells Fargo & Company upped their price target on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Barclays increased their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Company 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.