GE Aerospace $GE Holdings Cut by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. reduced its stake in GE Aerospace by 1.2%, owning 373,999 shares after selling 4,599 shares during the first quarter, valued at approximately $74.9 million.
• GE Aerospace reported $1.66 EPS for the last quarter, exceeding estimates, with revenues of $10.15 billion, a significant increase of 21.2% year-over-year.
• Analysts have adjusted their price targets for GE Aerospace, with Royal Bank of Canada setting a new target at $300 and UBS Group raising it to $321, while maintaining a generally positive outlook on the stock.

Clark Capital Management Group Inc. decreased its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,999 shares of the company's stock after selling 4,599 shares during the quarter. Clark Capital Management Group Inc.'s holdings in GE Aerospace were worth $74,856,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of GE Aerospace by 17.1% in the first 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 stake in shares of GE Aerospace in the first quarter valued at approximately $203,000. Sendero Wealth Management LLC increased its stake in shares of GE Aerospace by 526.6% in the first 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 increased its stake in shares of GE Aerospace by 25.1% in the first 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 boosted its holdings in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,580 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Price Performance

NYSE:GE traded down $2.62 during trading hours 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 company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $296.55 billion, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 3.00 and a beta of 1.48. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $284.41. The business's 50-day simple moving average is $266.25 and its two-hundred day simple moving average is $231.21.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's dividend payout ratio is 20.08%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GE shares. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Wall Street Zen cut shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. UBS Group increased their price objective 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, Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.