GE Aerospace $GE Shares Sold by Smith Anglin Financial LLC

Key Points

• Smith Anglin Financial LLC reduced its holdings in GE Aerospace by 30.7%, now owning 2,246 shares valued at approximately $578,000.
• Analysts are generally optimistic about GE Aerospace, with UBS Group and Jefferies Financial Group raising their price targets to $321.00 and $350.00 respectively, both maintaining "buy" ratings.
• GE Aerospace reported better-than-expected earnings of $1.66 per share for the recent quarter, along with a revenue increase of 21.2% year-over-year, reaching $10.15 billion.

Smith Anglin Financial LLC decreased its holdings in GE Aerospace (NYSE:GE - Free Report) by 30.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246 shares of the company's stock after selling 996 shares during the quarter. Smith Anglin Financial LLC's holdings in GE Aerospace were worth $578,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter worth $28,000. Copia Wealth Management boosted 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 worth $29,000 after purchasing an additional 142 shares in the last quarter. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter worth $29,000. Wealth Preservation Advisors LLC acquired a new stake in shares of GE Aerospace in the 1st quarter worth $30,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of GE Aerospace in the 1st quarter worth $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GE shares. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Jefferies Financial Group lifted their price target on GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Stock Performance

Shares of GE stock opened at $294.97 on Monday. The stock has a market cap of $312.80 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 3.17 and a beta of 1.48. The business has a 50-day simple moving average of $277.26 and a 200-day simple moving average of $241.12. 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 52-week low of $159.36 and a 52-week high of $307.25.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (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 analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The company's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's payout ratio is 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.

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