Douglas Lane & Associates LLC Sells 62,034 Shares of GE Aerospace $GE

Key Points

• Douglas Lane & Associates LLC reduced its stake in GE Aerospace by 10.8% in the second quarter, holding 509,850 shares worth approximately $131.2 million, making it the firm's 7th largest investment.
• Citigroup and Barclays have raised target prices for GE Aerospace, with Barclays increasing its target from $230 to $295, while UBS Group raised it to $321, reflecting positive analyst sentiment.
• GE Aerospace reported $1.66 EPS in its latest quarterly earnings, exceeding analysts' expectations of $1.43, with revenue of $10.15 billion, up 21.2% year-over-year.

Douglas Lane & Associates LLC decreased its position in GE Aerospace (NYSE:GE - Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 509,850 shares of the company's stock after selling 62,034 shares during the period. GE Aerospace makes up 1.9% of Douglas Lane & Associates LLC's holdings, making the stock its 7th biggest holding. Douglas Lane & Associates LLC's holdings in GE Aerospace were worth $131,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Vanguard Group Inc. grew its position in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after purchasing an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Invesco Ltd. grew its holdings in shares of GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the last quarter. GQG Partners LLC bought a new stake in GE Aerospace in the 1st quarter worth $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock worth $1,536,387,000 after acquiring an additional 491,207 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Trading Up 0.0%

NYSE GE traded up $0.11 during trading on Friday, hitting $281.67. The stock had a trading volume of 3,249,603 shares, compared to its average volume of 3,743,986. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $286.91. The company has a market capitalization of $298.69 billion, a PE ratio of 39.28, a PEG ratio of 3.03 and a beta of 1.48. 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 firm has a 50 day moving average price of $269.33 and a 200 day moving average price of $233.93.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company posted $1.20 earnings per share. The firm's quarterly revenue 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, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued 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 was Monday, July 7th. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Barclays boosted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Company 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.