GE Aerospace (NYSE:GE) Shares Sold by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors LLC reduced its holdings in GE Aerospace by 19.9%, owning 7,847 shares valued at $1.57 million after selling 1,944 shares.
• GE Aerospace reported $1.66 earnings per share in its latest quarterly results, beating the expected $1.43, with a revenue increase of 21.2% year-over-year.
• The company announced a quarterly dividend of $0.36 per share, indicating a dividend yield of 0.5% and a payout ratio of 20.08%.

IPG Investment Advisors LLC lessened its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 19.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,847 shares of the company's stock after selling 1,944 shares during the period. IPG Investment Advisors LLC's holdings in GE Aerospace were worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter worth $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace in the fourth quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace in the first quarter valued at $28,000. Copia Wealth Management grew its holdings in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Finally, First Pacific Financial grew its holdings in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Down 0.6%

Shares of NYSE:GE opened at $269.49 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $274.94. The stock's fifty day simple moving average is $252.13 and its 200-day simple moving average is $218.91. The company has a market capitalization of $285.78 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.90 and a beta of 1.44.

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

GE Aerospace Dividend Announcement

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

Analyst Ratings Changes

GE has been the topic of several research reports. Wells Fargo & Company upped their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays upped their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada upped their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One 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 company has a consensus rating of "Moderate Buy" and a consensus price target 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.

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