DnB Asset Management AS Sells 15,465 Shares of GE Aerospace $GE

Key Points

• DnB Asset Management AS has reduced its stake in GE Aerospace by 3.8%, now holding 390,264 shares worth approximately $78.1 million.
• GE Aerospace reported a quarterly earnings per share of $1.66, exceeding analyst estimates, with a revenue increase of 21.2% year-over-year.
• Several brokerages have recently revised their price targets for GE Aerospace, with Royal Bank of Canada raising its target to $300.00 and Citigroup updating its target to $296.00.

DnB Asset Management AS lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,264 shares of the company's stock after selling 15,465 shares during the period. DnB Asset Management AS's holdings in GE Aerospace were worth $78,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Smartleaf Asset Management LLC lifted its position in GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock valued at $1,647,000 after purchasing an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the 1st quarter valued at about $203,000. Sendero Wealth Management LLC lifted its position in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares during the period. Concurrent Investment Advisors LLC lifted its position in GE Aerospace by 25.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC lifted its position in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,580 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

GE Aerospace Stock Down 0.9%

Shares of NYSE GE traded down $2.62 during mid-day trading on Friday, reaching $279.65. 4,950,277 shares of the company's stock were exchanged, compared to its average volume of 4,005,729. The firm 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. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $266.25 and a 200 day simple moving average of $231.21. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $284.41.

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 for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Barclays boosted their target price 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. UBS Group boosted their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of "Moderate Buy" and an average price target of $232.92.

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.