Cynosure Group LLC Has $9.80 Million Position in GE Aerospace (NYSE:GE)

Key Points

• Cynosure Group LLC reduced its stake in GE Aerospace by 31% in the first quarter, leaving it with approximately 48,954 shares valued at $9.8 million.
• Several analysts have upgraded their price targets for GE Aerospace, with UBS Group raising its target from $300 to $321, reflecting strong bullish sentiment.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, beating estimates and showcasing a year-over-year revenue increase of 21.2% to $10.15 billion.

Cynosure Group LLC cut its position in GE Aerospace (NYSE:GE - Free Report) by 31.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,954 shares of the company's stock after selling 21,977 shares during the period. GE Aerospace accounts for 1.4% of Cynosure Group LLC's investment portfolio, making the stock its 17th largest holding. Cynosure Group LLC's holdings in GE Aerospace were worth $9,798,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after buying an additional 2,421 shares during the period. Revolve Wealth Partners LLC grew its holdings 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 worth $375,000 after buying an additional 150 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of GE Aerospace by 125.4% in the fourth quarter. Scotia Capital Inc. now owns 43,794 shares of the company's stock worth $7,305,000 after acquiring an additional 24,363 shares during the last quarter. Argent Trust Co lifted its position in GE Aerospace by 1.6% during the fourth quarter. Argent Trust Co now owns 10,486 shares of the company's stock valued at $1,749,000 after buying an additional 166 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of GE Aerospace by 1.9% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 13,648 shares of the company's stock worth $2,276,000 after purchasing an additional 250 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on GE shares. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Citigroup restated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Price Performance

NYSE GE traded up $4.70 on Tuesday, reaching $279.90. The company's stock had a trading volume of 1,850,571 shares, compared to its average volume of 6,072,383. The firm's 50 day moving average is $255.87 and its two-hundred day moving average is $222.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $296.82 billion, a PE ratio of 39.04, a PEG ratio of 2.96 and a beta of 1.44. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $280.54.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

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.