GE Aerospace (NYSE:GE) Stock Position Trimmed by Pelham Capital Ltd.

Pelham Capital Ltd. decreased its holdings in GE Aerospace (NYSE:GE - Free Report) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,208 shares of the company's stock after selling 24,624 shares during the period. GE Aerospace comprises approximately 10.5% of Pelham Capital Ltd.'s holdings, making the stock its 2nd largest holding. Pelham Capital Ltd.'s holdings in GE Aerospace were worth $20,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Brighton Jones LLC grew its position in shares of GE Aerospace by 25.3% during the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after acquiring an additional 150 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of GE Aerospace by 62.2% during the fourth quarter. Proficio Capital Partners LLC now owns 3,327 shares of the company's stock worth $555,000 after purchasing an additional 1,276 shares during the period. Moran Wealth Management LLC raised its position in GE Aerospace by 5.4% during the fourth quarter. Moran Wealth Management LLC now owns 1,360 shares of the company's stock valued at $227,000 after acquiring an additional 70 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in GE Aerospace by 21.5% during the fourth quarter. Independent Advisor Alliance now owns 27,886 shares of the company's stock valued at $4,651,000 after acquiring an additional 4,943 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Down 0.1%

Shares of GE traded down $0.36 during midday trading on Thursday, hitting $249.97. The company had a trading volume of 215,335 shares, compared to its average volume of 5,509,742. The company's 50-day simple moving average is $237.24 and its 200-day simple moving average is $207.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $266.57 billion, a P/E ratio of 38.79, a P/E/G ratio of 2.98 and a beta of 1.37. GE Aerospace has a 1 year low of $150.20 and a 1 year high of $260.55.

GE Aerospace (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 29.15% and a net margin of 17.63%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. As a group, sell-side analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's dividend payout ratio (DPR) is currently 22.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. Citigroup cut their price objective on GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada set a $275.00 price objective on GE Aerospace and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. UBS Group increased their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their target price on GE Aerospace from $212.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and an average price target of $223.75.

Insider Activity at GE Aerospace

In related news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total value of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. The trade was a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Giglietti sold 4,104 shares of GE Aerospace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president owned 11,540 shares in the company, valued at approximately $2,270,264.20. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

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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