GE Aerospace $GE Shares Sold by Stableford Capital II LLC

Key Points

• Stableford Capital II LLC reduced its stake in GE Aerospace by 12.9%, holding 6,528 shares valued at approximately $1.77 million.
• GE Aerospace reported earnings of $1.66 EPS, exceeding expectations of $1.43 and achieving a 21.2% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.36 per share, with a payout ratio of 20.08%, set to be paid on October 27th.

Stableford Capital II LLC trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,528 shares of the company's stock after selling 964 shares during the quarter. Stableford Capital II LLC's holdings in GE Aerospace were worth $1,773,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in GE Aerospace in the first quarter valued at $28,000. Copia Wealth Management grew its position in shares of 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 acquiring an additional 142 shares during the period. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace in the 1st quarter valued at about $29,000. Wealth Preservation Advisors LLC acquired a new position in GE Aerospace in the 1st quarter worth about $30,000. Finally, O Brien Wealth Partners LLC acquired a new position in GE Aerospace in the 1st quarter worth about $33,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Up 0.1%

Shares of GE stock opened at $300.49 on Thursday. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock's fifty day moving average is $285.00 and its two-hundred day moving average is $249.07. The firm has a market capitalization of $318.65 billion, a P/E ratio of 41.91, a PEG ratio of 3.23 and a beta of 1.49.

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

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Analysts Set New Price Targets

Several brokerages have commented on GE. TD Cowen raised their price objective on GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday, October 8th. Wolfe Research increased their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 9th. Finally, Citigroup reissued a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, GE Aerospace presently has a consensus rating of "Moderate Buy" and an average target price of $267.13.

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.

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