GE Aerospace (NYSE:GE) Shares Sold by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel Ltd. has reduced its stake in GE Aerospace by 73.5%, now holding just 5,000 shares after selling 13,900 shares in the first quarter.
• Research analysts have mixed opinions on GE Aerospace, with one rating it as a "hold" and eleven giving it a "buy" rating, while price targets range from $232.92 to $321.00.
• GE Aerospace reported earnings of $1.66 per share and revenue of $10.15 billion for the last quarter, outperforming consensus estimates and marking a 21.2% year-over-year revenue increase.

PCJ Investment Counsel Ltd. reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 73.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the company's stock after selling 13,900 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in GE Aerospace were worth $1,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the 1st quarter worth $28,000. Copia Wealth Management increased its stake 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 period. O Brien Wealth Partners LLC acquired a new position in GE Aerospace in the first quarter valued at $33,000. First Pacific Financial increased its stake 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 period. Finally, POM Investment Strategies LLC increased its stake in GE Aerospace by 1,078.6% in the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 151 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Citigroup restated a "buy" rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, UBS Group lifted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Down 0.1%

Shares of NYSE:GE opened at $271.89 on Friday. The company has a market cap of $288.33 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.93 and a beta of 1.44. The firm's 50-day simple moving average is $254.73 and its 200-day simple moving average is $220.90. 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 fifty-two week low of $159.36 and a fifty-two week high of $277.00.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate 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%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, equities research analysts predict 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. 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 yield of 0.5%. GE Aerospace's dividend payout ratio is currently 20.08%.

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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