Exchange Traded Concepts LLC Sells 63,858 Shares of GE Aerospace $GE

Key Points

• Exchange Traded Concepts LLC significantly reduced its stake in GE Aerospace, selling 63,858 shares, which resulted in a 92.1% decrease in their holdings during the second quarter.
• GE Aerospace reported strong quarterly earnings with a $1.66 EPS, surpassing analyst expectations of $1.43, and achieved 21.2% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.36, which will be paid on October 27th, representing a 0.5% yield and a payout ratio of 20.08%.

Exchange Traded Concepts LLC lessened its position in GE Aerospace (NYSE:GE - Free Report) by 92.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,507 shares of the company's stock after selling 63,858 shares during the period. Exchange Traded Concepts LLC's holdings in GE Aerospace were worth $1,417,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in GE Aerospace by 17.1% during the first quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock worth $1,647,000 after purchasing an additional 1,201 shares during the last quarter. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the first quarter worth $203,000. Sendero Wealth Management LLC boosted its holdings in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after purchasing an additional 12,613 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after purchasing an additional 8,245 shares during the last quarter. Finally, Global Assets Advisory LLC boosted its holdings in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after purchasing an additional 9,580 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE:GE opened at $300.91 on Tuesday. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $303.03. The firm has a market cap of $319.09 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 3.24 and a beta of 1.48. The firm's 50-day simple moving average is $274.39 and its 200 day simple moving average is $238.13. 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 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 net margin of 18.64% and a return on equity of 31.32%. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the firm earned $1.20 earnings per share. GE Aerospace's revenue for the quarter 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. As a group, sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GE. Wells Fargo & Company increased 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 cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday. Citigroup reiterated 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. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $241.92.

About GE Aerospace

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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