Neo Ivy Capital Management Has $664,000 Stake in GE Aerospace (NYSE:GE)

Key Points

• Neo Ivy Capital Management reduced its holdings in GE Aerospace by 93.3%, owning only 3,318 shares after selling 45,912 shares, with a value of $664,000.
• GE Aerospace's stock increased by 1.2%, opening at $271.28, with a market cap of $287.67 billion and a P/E ratio of 37.84.
• The company reported strong quarterly earnings, with $1.66 EPS exceeding expectations and a revenue of $10.15 billion, marking a 21.2% increase from the previous year.

Neo Ivy Capital Management reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 93.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,318 shares of the company's stock after selling 45,912 shares during the period. Neo Ivy Capital Management's holdings in GE Aerospace were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GE. New Age Alpha Advisors LLC lifted its holdings in GE Aerospace by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in GE Aerospace during the fourth quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in GE Aerospace during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the first quarter valued at approximately $28,000. Finally, Copia Wealth Management lifted its stake in GE Aerospace by 14,200.0% during 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. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Stock Performance

NYSE:GE traded down $0.51 during midday trading on Tuesday, reaching $270.10. The stock had a trading volume of 1,585,687 shares, compared to its average volume of 6,214,509. GE Aerospace has a 1-year low of $150.20 and a 1-year high of $273.80. The firm's fifty day simple moving average is $249.09 and its 200-day simple moving average is $216.28. 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 has a market capitalization of $286.43 billion, a P/E ratio of 37.67, a PEG ratio of 3.11 and a beta of 1.37.

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

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Royal Bank Of Canada increased their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Barclays upped their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

About GE Aerospace

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.