GE Aerospace (NYSE:GE) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in GE Aerospace by 0.3%, owning approximately 3.05 million shares valued at $610.97 million after selling 10,700 shares.
• In its latest earnings report, GE Aerospace surpassed analysts' expectations with $1.66 earnings per share and revenue of $10.15 billion, representing a year-over-year revenue increase of 21.2%.
• The company announced a quarterly dividend of $0.36 per share, yielding 0.5% annually, with a payout ratio currently at 20.08%.

Swiss National Bank lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,052,562 shares of the company's stock after selling 10,700 shares during the period. Swiss National Bank owned about 0.29% of GE Aerospace worth $610,970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GE. AlphaCore Capital LLC grew its stake in GE Aerospace by 103.5% during the 1st quarter. AlphaCore Capital LLC now owns 17,333 shares of the company's stock valued at $3,469,000 after acquiring an additional 8,815 shares in the last quarter. Fayez Sarofim & Co lifted its holdings in shares of GE Aerospace by 14.3% in the 1st quarter. Fayez Sarofim & Co now owns 9,644 shares of the company's stock worth $1,930,000 after acquiring an additional 1,204 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of GE Aerospace by 11.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,915,569 shares of the company's stock worth $383,401,000 after acquiring an additional 196,126 shares during the last quarter. Accuvest Global Advisors acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $396,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in GE Aerospace during the 1st quarter worth approximately $35,309,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

GE traded up $0.54 during midday trading on Monday, reaching $275.55. 1,273,947 shares of the company's stock were exchanged, compared to its average volume of 6,085,635. 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 $292.21 billion, a PE ratio of 38.43, a P/E/G ratio of 2.96 and a beta of 1.44. The business's 50-day moving average price is $255.31 and its 200 day moving average price is $221.88. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $277.18.

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

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given 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 payout ratio is currently 20.08%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup reiterated a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Barclays lifted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. UBS Group raised their price objective 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. Finally, Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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.