Greenwood Capital Associates LLC Decreases Stake in GE Aerospace $GE

Key Points

• Greenwood Capital Associates LLC reduced its stake in GE Aerospace by 3.3%, selling 910 shares and holding 26,305 shares worth approximately $6.77 million.
• Vanguard Group Inc. and Price T Rowe Associates Inc. increased their stakes in GE Aerospace, with Vanguard owning over 90 million shares, indicating strong institutional interest.
• Analysts have generally rated GE Aerospace positively, with a consensus rating of "Moderate Buy" and price target increases from firms like UBS Group and Royal Bank Of Canada.

Greenwood Capital Associates LLC reduced its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,305 shares of the company's stock after selling 910 shares during the period. Greenwood Capital Associates LLC's holdings in GE Aerospace were worth $6,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock worth $18,115,065,000 after buying an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of GE Aerospace by 6.3% in 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 buying an additional 1,492,486 shares in the last quarter. Invesco Ltd. boosted its position in shares of GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock worth $1,921,344,000 after buying an additional 54,765 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of GE Aerospace in the 1st quarter worth about $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock worth $1,536,387,000 after buying an additional 491,207 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group boosted 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. Royal Bank Of Canada boosted their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Zacks Research lowered shares of GE Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Wells Fargo & Company upped their target price on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group upped their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $241.92.

GE Aerospace Trading Down 0.4%

NYSE GE opened at $299.54 on Friday. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $307.25. The company has a 50-day moving average of $280.12 and a 200-day moving average of $243.28. 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 company has a market cap of $317.64 billion, a P/E ratio of 41.78, a P/E/G ratio of 3.24 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The company'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. As a group, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is currently 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.

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