GE Aerospace $GE Shares Sold by Hedges Asset Management LLC

Key Points

• Hedges Asset Management LLC reduced its stake in GE Aerospace by 33.9%, now holding 24,125 shares valued at approximately $6.21 million.
• GE Aerospace reported earnings of $1.66 per share for the quarter, exceeding analysts' expectations of $1.43 and showing a 21.2% increase in revenue year-over-year.
• Several analysts have upgraded their ratings on GE Aerospace, with target prices raised significantly, including Barclays' boost to $295 and UBS's increase to $321.

Hedges Asset Management LLC cut its position in GE Aerospace (NYSE:GE - Free Report) by 33.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,125 shares of the company's stock after selling 12,400 shares during the period. GE Aerospace accounts for 5.0% of Hedges Asset Management LLC's investment portfolio, making the stock its 2nd largest holding. Hedges Asset Management LLC's holdings in GE Aerospace were worth $6,210,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GE. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $28,000. Copia Wealth Management increased its position 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 valued at $29,000 after purchasing an additional 142 shares during the last quarter. Nova Wealth Management Inc. purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $29,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Barclays increased 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. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

NYSE:GE traded up $0.11 during trading hours on Friday, reaching $281.67. 3,249,603 shares of the company's stock were exchanged, compared to its average volume of 3,743,986. The firm has a market capitalization of $298.69 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 3.03 and a beta of 1.48. The company has a 50-day moving average of $269.33 and a 200 day moving average of $234.15. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $286.91.

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

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

GE Aerospace 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.