The Manufacturers Life Insurance Company Trims Position in GE Aerospace $GE

Key Points

• The Manufacturers Life Insurance Company reduced its stake in GE Aerospace by 7.5%, currently owning 823,913 shares worth approximately $164.9 million.
• GE Aerospace reported earnings per share of $1.66 for the last quarter, exceeding analysts' expectations of $1.43, with revenue of $10.15 billion.
• Analysts have varied opinions on the stock, with upgrades in price targets from UBS and Barclays, while others have issued downgrades, resulting in a consensus rating of "Moderate Buy."

The Manufacturers Life Insurance Company lowered its stake in GE Aerospace (NYSE:GE - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 823,913 shares of the company's stock after selling 66,777 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of GE Aerospace worth $164,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter valued at approximately $28,000. Copia Wealth Management raised its holdings in 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 buying an additional 142 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in GE Aerospace in the 1st quarter valued at approximately $30,000. O Brien Wealth Partners LLC bought a new position in GE Aerospace in the 1st quarter valued at approximately $33,000. Finally, First Pacific Financial raised its holdings in GE Aerospace by 46.0% in 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 last quarter. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group increased their target price 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. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company increased their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE traded down $0.16 during mid-day trading on Tuesday, reaching $275.04. 2,715,202 shares of the company's stock were exchanged, compared to its average volume of 5,923,397. The firm has a market capitalization of $291.67 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 2.96 and a beta of 1.48. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $281.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The firm has a 50-day moving average price of $264.10 and a two-hundred day moving average price of $229.45.

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

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were 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 was Monday, July 7th. GE Aerospace's 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.