Certuity LLC Sells 69,932 Shares of GE Aerospace (NYSE:GE)

Key Points

• Certuity LLC has reduced its stake in GE Aerospace by 22.9%, selling 69,932 shares, which now constitutes 4.9% of its portfolio with a value of approximately $47 million.
• GE Aerospace recently reported earnings of $1.66 per share, surpassing analyst expectations and achieving a revenue of $10.15 billion for the quarter, marking a 21.2% increase year-over-year.
• The company has declared a quarterly dividend of $0.36 per share, translating to an annualized dividend yield of 0.5% and a payout ratio of 20.08%.

Certuity LLC trimmed its position in GE Aerospace (NYSE:GE - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 234,848 shares of the company's stock after selling 69,932 shares during the quarter. GE Aerospace accounts for 4.9% of Certuity LLC's holdings, making the stock its 2nd largest holding. Certuity LLC's holdings in GE Aerospace were worth $47,005,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GE. Brighton Jones LLC lifted its position in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 150 shares during the period. XTX Topco Ltd increased its stake in GE Aerospace by 163.8% during the 4th quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock worth $560,000 after buying an additional 2,083 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of GE Aerospace in the 4th quarter worth about $257,000. Finally, Bridgewater Associates LP boosted its stake in GE Aerospace by 8.4% during the 4th quarter. Bridgewater Associates LP now owns 222,843 shares of the company's stock valued at $37,168,000 after purchasing an additional 17,228 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays boosted 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 reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday. Citigroup reaffirmed a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Trading Down 0.8%

Shares of NYSE:GE traded down $2.08 on Friday, hitting $267.62. 5,202,309 shares of the company's stock were exchanged, compared to its average volume of 4,687,750. 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 business's 50 day simple moving average is $257.44 and its two-hundred day simple moving average is $224.35. The stock has a market capitalization of $283.79 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 2.88 and a beta of 1.44. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50.

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

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) 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.