GE Aerospace $GE Holdings Reduced by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in GE Aerospace by 0.7%, now holding approximately 9.97 million shares valued at about $1.996 billion.
• GE Aerospace reported $10.15 billion in revenue for the most recent quarter, significantly surpassing analysts' expectations and marking a 21.2% increase year-over-year.
• The company declared a quarterly dividend of $0.36, translating to an annual yield of 0.5% with a payout ratio of 20.08%.

Northern Trust Corp trimmed its holdings in GE Aerospace (NYSE:GE - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,974,113 shares of the company's stock after selling 72,754 shares during the quarter. Northern Trust Corp owned about 0.94% of GE Aerospace worth $1,996,319,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace in the 1st quarter worth approximately $33,000. First Pacific Financial boosted its holdings in shares of 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 acquiring an additional 52 shares in the last quarter. Finally, POM Investment Strategies LLC increased its stake in shares of GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE stock opened at $267.62 on Monday. The company has a market capitalization of $283.79 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.88 and a beta of 1.44. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50. 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 stock's fifty day simple moving average is $257.44 and its 200-day simple moving average is $224.48.

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

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid 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 (DPR) is presently 20.08%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a report on Friday. UBS Group upped their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

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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