Greenleaf Trust Sells 1,718 Shares of GE Aerospace $GE

Key Points

• Greenleaf Trust reduced its stake in GE Aerospace by 7.6%, selling 1,718 shares and leaving it with a total of 20,983 shares worth approximately $5.4 million.
• GE Aerospace reported $1.66 earnings per share for the last quarter, surpassing expectations and showing a 21.2% increase in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $0.36 per share, representing an annualized dividend of $1.44 with a yield of 0.5%.

Greenleaf Trust reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,983 shares of the company's stock after selling 1,718 shares during the period. Greenleaf Trust's holdings in GE Aerospace were worth $5,401,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after buying an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares during the last quarter. Invesco Ltd. lifted its stake in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after purchasing an additional 54,765 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of GE Aerospace during the 1st quarter valued at $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of GE Aerospace by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock valued at $1,536,387,000 after purchasing an additional 491,207 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Performance

NYSE GE opened at $293.57 on Tuesday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The company's 50 day moving average is $277.88 and its 200-day moving average is $241.79. 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 cap of $311.31 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 3.17 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 31.32% and a net margin of 18.64%.The company 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 business earned $1.20 earnings per share. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Jefferies Financial Group increased their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Royal Bank Of Canada raised their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $241.92.

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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