Mackenzie Financial Corp lessened its holdings in GE Aerospace (NYSE:GE - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 562,723 shares of the company's stock after selling 107,426 shares during the period. Mackenzie Financial Corp owned 0.05% of GE Aerospace worth $112,629,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of GE. New Age Alpha Advisors LLC lifted its stake in shares of 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 purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of GE Aerospace in the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Aerospace in the 1st quarter valued at $28,000. Finally, Copia Wealth Management lifted its stake in shares of GE Aerospace by 14,200.0% in the 1st 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. Institutional investors and hedge funds own 74.77% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GE. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group boosted their target price on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada boosted their target price 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. Citigroup reissued a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Finally, Barclays boosted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $232.92.
Get Our Latest Report on GE
GE Aerospace Stock Performance
NYSE:GE opened at $270.58 on Tuesday. The firm's 50-day moving average is $249.09 and its 200-day moving average is $216.28. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $273.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market cap of $286.93 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 3.11 and a beta of 1.37.
GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business's revenue was up 21.2% compared to the same quarter last year. Equities research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.
GE Aerospace Announces Dividend
The firm 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 currently 20.08%.
About GE Aerospace
(
Free Report)
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.
Further Reading
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