Great Lakes Advisors LLC Reduces Holdings in GE Aerospace $GE

Key Points

• Great Lakes Advisors LLC sold 4,712 shares of GE Aerospace, reducing its holdings by 2.4%, leaving it with 188,653 shares valued at approximately $37.76 million.
• Several hedge funds have recently increased their positions in GE Aerospace, including Brighton Jones LLC, which raised its stake by 25.3% in the fourth quarter.
• Analysts have mixed views on GE Aerospace, with a notable downgrade from Wall Street Zen from "buy" to "hold", while UBS increased its price target from $300 to $321.

Great Lakes Advisors LLC lowered its position in GE Aerospace (NYSE:GE - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 188,653 shares of the company's stock after selling 4,712 shares during the period. Great Lakes Advisors LLC's holdings in GE Aerospace were worth $37,759,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new position in GE Aerospace during the fourth quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in shares of GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management increased 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 worth $29,000 after acquiring an additional 142 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the 1st quarter valued at about $30,000. Finally, First Pacific Financial boosted its stake in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GE. Wall Street Zen downgraded shares of GE Aerospace from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Citigroup reissued a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, GE Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

GE traded up $6.89 during midday trading on Wednesday, hitting $283.13. 3,188,972 shares of the company traded hands, compared to its average volume of 4,084,558. The company's 50-day moving average is $267.16 and its 200 day moving average is $232.21. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $300.25 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 2.97 and a beta of 1.48. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $284.41.

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

GE Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

GE Aerospace 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.