Gulf International Bank UK Ltd Decreases Stake in GE Aerospace (NYSE:GE)

Key Points

• Gulf International Bank UK Ltd reduced its stake in GE Aerospace by 27.0% during Q1, now holding shares worth $12.4 million.
• Analysts have raised their price targets for GE Aerospace, with Barclays increasing it from $230 to $295, while Citigroup set a target of $296 and UBS raised theirs to $321.
• GE Aerospace reported $1.66 EPS for the last quarter, exceeding estimates, with a revenue of $10.15 billion, a 21.2% increase year-over-year.

Gulf International Bank UK Ltd cut its position in shares of GE Aerospace (NYSE:GE - Free Report) by 27.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,983 shares of the company's stock after selling 22,925 shares during the period. Gulf International Bank UK Ltd's holdings in GE Aerospace were worth $12,405,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in GE Aerospace by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after acquiring an additional 692,124 shares in the last quarter. Northern Trust Corp boosted its position in GE Aerospace by 5.8% during the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after acquiring an additional 553,104 shares in the last quarter. Invesco Ltd. boosted its position in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after acquiring an additional 54,765 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in GE Aerospace by 11.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company's stock valued at $1,259,438,000 after acquiring an additional 781,574 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in GE Aerospace by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after acquiring an additional 628,458 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

GE stock traded down $2.08 during midday trading on Friday, hitting $267.62. 5,016,609 shares of the stock traded hands, compared to its average volume of 6,076,876. The firm has a market cap of $283.79 billion, a P/E ratio of 37.32, a PEG ratio of 2.89 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. The stock's fifty day simple moving average is $257.20 and its 200-day simple moving average is $223.67. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50.

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

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Analysts Set New Price Targets

Several research firms recently commented on GE. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Barclays raised their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reaffirmed a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a report on Friday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $232.92.

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.