Dorsey Wright & Associates Decreases Holdings in GE Aerospace (NYSE:GE)

Dorsey Wright & Associates lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 90.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,126 shares of the company's stock after selling 10,821 shares during the quarter. Dorsey Wright & Associates' holdings in GE Aerospace were worth $225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its stake in GE Aerospace by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company's stock worth $3,846,587,000 after acquiring an additional 529,457 shares in the last quarter. Norges Bank acquired a new position in GE Aerospace during the fourth quarter worth about $2,375,439,000. Northern Trust Corp raised its stake in GE Aerospace by 5.8% during the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock worth $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. Finally, Invesco Ltd. raised its stake in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Buying and Selling

In related news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares of the company's stock, valued at approximately $1,766,899.35. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Citigroup reissued a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Finally, UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Up 1.2%

Shares of GE Aerospace stock traded up $3.27 on Friday, reaching $271.28. 4,597,132 shares of the company's stock were exchanged, compared to its average volume of 7,770,745. The company has a market capitalization of $287.67 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $272.83. The firm's 50-day moving average is $248.37 and its two-hundred day moving average is $215.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

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 analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's payout ratio is currently 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.