GE Aerospace $GE Stake Lessened by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB reduced its stake in GE Aerospace by 2.9%, owning 80,210 shares valued at approximately $20.48 million after selling 2,370 shares.
• GE Aerospace reported a quarterly EPS of $1.66, surpassing estimates, with a year-over-year revenue increase of 21.2% to $10.15 billion for the quarter.
• GE Aerospace announced a quarterly dividend of $0.36 per share, reflecting a dividend yield of 0.5% and a payout ratio of 20.08%.

Nordea Investment Management AB cut its stake in GE Aerospace (NYSE:GE - Free Report) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,210 shares of the company's stock after selling 2,370 shares during the period. Nordea Investment Management AB's holdings in GE Aerospace were worth $20,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Old North State Wealth Management LLC boosted its holdings in shares of GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after acquiring an additional 39 shares in the last quarter. Stephens Consulting LLC lifted its stake in GE Aerospace by 18.0% during the second quarter. Stephens Consulting LLC now owns 256 shares of the company's stock valued at $66,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. lifted its stake in GE Aerospace by 2.1% during the second quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock valued at $507,000 after purchasing an additional 41 shares during the last quarter. Pacific Sage Partners LLC lifted its stake in GE Aerospace by 3.5% during the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock valued at $314,000 after purchasing an additional 41 shares during the last quarter. Finally, Ascent Capital Management LLC lifted its stake in GE Aerospace by 1.9% during the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock valued at $585,000 after purchasing an additional 42 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Stock Up 0.3%

GE stock opened at $300.60 on Monday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $318.77 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. The company has a 50 day moving average of $286.07 and a two-hundred day moving average of $251.22.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $1.20 EPS. GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. On average, equities analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. TD Cowen increased their target price on shares of GE Aerospace from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Barclays increased their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein upped their price target on shares of GE Aerospace from $343.00 to $374.00 and gave the company an "outperform" rating in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $350.00 price target on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, GE Aerospace currently has an average rating of "Moderate Buy" and an average target price of $276.31.

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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