Delta Financial Group Inc. Lowers Position in GE Aerospace (NYSE:GE)

Key Points

• Delta Financial Group Inc. has reduced its stake in GE Aerospace by 10.1% during the first quarter, holding 10,429 shares valued at approximately $2.19 million.
• Several analysts have upgraded GE Aerospace's rating, with Barclays increasing the price target from $230 to $295 and UBS raising it from $300 to $321, suggesting a strong market outlook.
• GE Aerospace posted quarterly earnings of $1.66 per share, exceeding expectations and reflecting a 21.2% increase in revenue compared to the previous year.

Delta Financial Group Inc. lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,429 shares of the company's stock after selling 1,169 shares during the period. Delta Financial Group Inc.'s holdings in GE Aerospace were worth $2,193,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GE. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of GE Aerospace by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company's stock valued at $56,000 after purchasing an additional 50 shares in the last quarter. Hudock Inc. increased its holdings in GE Aerospace by 1.8% in the first quarter. Hudock Inc. now owns 2,905 shares of the company's stock valued at $582,000 after buying an additional 50 shares during the last quarter. First Pacific Financial increased its holdings in 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 buying an additional 52 shares during the last quarter. First Heartland Consultants Inc. raised its stake in GE Aerospace by 1.2% during the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the company's stock valued at $789,000 after buying an additional 54 shares in the last quarter. Finally, Motco lifted its holdings in GE Aerospace by 18.5% during the 1st quarter. Motco now owns 353 shares of the company's stock worth $71,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GE shares. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company raised their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $269.49 on Friday. The firm's 50 day moving average is $252.13 and its two-hundred day moving average is $218.64. The firm has a market capitalization of $285.78 billion, a P/E ratio of 37.59, a PEG ratio of 2.90 and a beta of 1.44. 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 has a 52 week low of $150.20 and a 52 week high of $274.94.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 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 analyst estimates of $9.49 billion. During the same period in the prior year, the company posted $1.20 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors 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 dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 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.

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