GE Aerospace $GE Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in GE Aerospace by 10.3% during Q2, owning 24,646 shares valued at approximately $6.34 million.
• GE Aerospace reported $1.66 EPS for the last quarter, beating estimates, and experienced a 21.2% year-over-year revenue increase to $10.15 billion.
• The company announced a quarterly dividend of $0.36 per share, reflecting a 0.5% yield, payable to investors on October 27th.

Envestnet Portfolio Solutions Inc. lessened its position in GE Aerospace (NYSE:GE - Free Report) by 10.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,646 shares of the company's stock after selling 2,820 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in GE Aerospace were worth $6,344,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. IMA Advisory Services Inc. acquired a new position in GE Aerospace during the 1st quarter valued at about $28,000. Copia Wealth Management increased its stake in GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares during the period. Nova Wealth Management Inc. acquired a new position in GE Aerospace during the 1st quarter valued at about $29,000. Wealth Preservation Advisors LLC acquired a new position in GE Aerospace during the 1st quarter valued at about $30,000. Finally, First Pacific Financial increased its stake in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE opened at $300.28 on Wednesday. GE Aerospace has a one year low of $159.36 and a one year high of $307.25. The company has a 50-day moving average of $284.44 and a two-hundred day moving average of $248.71. The stock has a market cap of $318.43 billion, a price-to-earnings ratio of 41.88, a PEG ratio of 3.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the company posted $1.20 earnings per share. The business's revenue for the quarter was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities research analysts expect that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be 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 is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GE shares. TD Cowen raised their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a "buy (b)" rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $350.00 target price on shares of GE Aerospace in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $267.13.

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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