Intech Investment Management LLC Sells 32,356 Shares of GE Aerospace $GE

Key Points

• Intech Investment Management LLC has reduced its stake in GE Aerospace by 34.0%, selling 32,356 shares and holding 62,905 shares worth approximately $12.59 million at the end of the first quarter.
• Analysts have varied opinions on GE Aerospace, with recent ratings showing a consensus of 10 Buy and 1 Hold ratings, and an increased target price range from several analysts, reaching as high as $321.00.
• GE Aerospace reported a strong earnings performance, exceeding estimates with $1.66 EPS and revenue of $10.15 billion, which was a 21.2% increase year-over-year.

Intech Investment Management LLC lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 62,905 shares of the company's stock after selling 32,356 shares during the quarter. Intech Investment Management LLC's holdings in GE Aerospace were worth $12,590,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GE. GQG Partners LLC bought a new position in shares of GE Aerospace during the 1st quarter valued at approximately $1,606,840,000. GAMMA Investing LLC increased its position in shares of GE Aerospace by 23,611.7% during the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Nuveen LLC bought a new position in shares of GE Aerospace during the 1st quarter valued at approximately $777,075,000. Amundi increased its position in shares of GE Aerospace by 124.0% during the 1st quarter. Amundi now owns 3,200,479 shares of the company's stock valued at $600,506,000 after purchasing an additional 1,771,944 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada boosted their target price on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen downgraded GE Aerospace from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group upped their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup reaffirmed a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Price Performance

Shares of GE stock opened at $283.13 on Thursday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $284.41. The stock has a market capitalization of $300.25 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 2.97 and a beta of 1.48. The stock has a fifty day simple moving average of $267.93 and a two-hundred day simple moving average of $232.56. 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 earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping 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 business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period in the prior year, the business earned $1.20 EPS. The business's revenue for the quarter 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. On average, analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, July 7th. GE Aerospace's dividend payout ratio is currently 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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