GE Aerospace $GE Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its stake in GE Aerospace by 17.2% during the 1st quarter, resulting in ownership of 203,114 shares valued at approximately $40.7 million.
• GE Aerospace reported a $1.66 EPS for the last quarter, exceeding the consensus estimate of $1.43, with revenues of $10.15 billion, up 21.2% year-over-year.
• The company has declared a quarterly dividend of $0.36 per share, resulting in an annualized dividend yield of 0.5% and a payout ratio of 20.08%.

Rafferty Asset Management LLC decreased its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,114 shares of the company's stock after selling 42,267 shares during the period. Rafferty Asset Management LLC's holdings in GE Aerospace were worth $40,653,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new position in GE Aerospace during the 4th quarter valued at about $28,000. 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. 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. Finally, O Brien Wealth Partners LLC acquired a new position in GE Aerospace during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Performance

Shares of GE opened at $266.73 on Tuesday. GE Aerospace has a one year low of $159.36 and a one year high of $281.50. The company has a 50-day moving average of $260.49 and a two-hundred day moving average of $227.11. The stock has a market cap of $282.85 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 2.87 and a beta of 1.44. 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 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%. GE Aerospace's dividend payout ratio is currently 20.08%.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Aerospace (NYSE:GE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.