Glass Wealth Management Co LLC Sells 1,005 Shares of GE Aerospace $GE

Key Points

• Glass Wealth Management Co LLC has reduced its stake in GE Aerospace by 22.8%, now holding 3,400 shares worth $875,000 after selling 1,005 shares in the second quarter.
• Recent analysts' reports have generally rated GE Aerospace positively, with Citigroup and Royal Bank of Canada raising their price targets significantly, indicating a consensus rating of "Moderate Buy."
• GE Aerospace declared a quarterly dividend of $0.36 per share, to be paid on October 27th, with a current dividend yield of 0.5% and a payout ratio of 20.08%.

Glass Wealth Management Co LLC cut its position in shares of GE Aerospace (NYSE:GE - Free Report) by 22.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,400 shares of the company's stock after selling 1,005 shares during the quarter. Glass Wealth Management Co LLC's holdings in GE Aerospace were worth $875,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GE. GQG Partners LLC bought a new position in GE Aerospace in the first quarter valued at approximately $1,606,840,000. Nuveen LLC acquired a new stake in GE Aerospace during the 1st quarter worth approximately $777,075,000. Amundi lifted its holdings in GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock worth $600,506,000 after purchasing an additional 1,771,944 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in GE Aerospace by 7,406.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company's stock worth $242,624,000 after purchasing an additional 1,196,060 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. Citigroup restated a "buy" rating and set a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Zacks Research downgraded GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group boosted their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.92.

GE Aerospace Price Performance

Shares of NYSE GE opened at $297.40 on Monday. The stock has a fifty day simple moving average of $280.65 and a two-hundred day simple moving average of $244.50. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25. The firm has a market cap of $315.38 billion, a price-to-earnings ratio of 41.48, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

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.

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