Heck Capital Advisors LLC Decreases Stake in GE Aerospace (NYSE:GE)

Key Points

• Heck Capital Advisors LLC significantly reduced its stake in GE Aerospace by 87.7%, selling 3,560 shares and retaining only 500 shares, valued at $100,000.
• Institutional investors own 74.77% of GE Aerospace's stock, with Brighton Jones LLC and XTX Topco Ltd being notable newcomers that increased their holdings.
• GE Aerospace recently reported earnings of $1.66 per share, exceeding estimates, with quarterly revenue rising 21.2% year-over-year to $10.15 billion.

Heck Capital Advisors LLC trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 87.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 500 shares of the company's stock after selling 3,560 shares during the quarter. Heck Capital Advisors LLC's holdings in GE Aerospace were worth $100,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in GE Aerospace by 25.3% during the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after buying an additional 150 shares in the last quarter. XTX Topco Ltd grew its holdings in GE Aerospace by 163.8% during the fourth quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock worth $560,000 after buying an additional 2,083 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in GE Aerospace during the fourth quarter worth $257,000. Finally, Bridgewater Associates LP grew its holdings in GE Aerospace by 8.4% during the fourth quarter. Bridgewater Associates LP now owns 222,843 shares of the company's stock worth $37,168,000 after buying an additional 17,228 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on GE shares. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Citigroup restated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Price Performance

GE traded up $1.00 on Thursday, reaching $269.86. The company had a trading volume of 4,476,768 shares, compared to its average volume of 5,276,676. The business has a 50 day simple moving average of $257.20 and a 200 day simple moving average of $223.67. The company has a market cap of $286.17 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.89 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a 52-week low of $159.36 and a 52-week 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, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

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