Kestra Advisory Services LLC Sells 5,639 Shares of GE Aerospace $GE

Key Points

• Kestra Advisory Services LLC reduced its stake in GE Aerospace by 6.7%, selling 5,639 shares and holding 78,576 shares worth $15.7 million as of the latest filing.
• GE Aerospace reported a 21.2% revenue increase year-over-year, achieving $10.15 billion in revenue and an earnings per share of $1.66, surpassing analyst estimates.
• Analysts have recently upgraded their ratings on GE Aerospace, with Citigroup setting a new price target at $296.00 and a consensus rating of Moderate Buy among ten analysts.

Kestra Advisory Services LLC lowered its stake in GE Aerospace (NYSE:GE - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,576 shares of the company's stock after selling 5,639 shares during the quarter. Kestra Advisory Services LLC's holdings in GE Aerospace were worth $15,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Rainey & Randall Wealth Advisors Inc. bought a new position in shares of GE Aerospace in the first quarter worth about $203,000. Sendero Wealth Management LLC raised its stake in shares of GE Aerospace by 526.6% in the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of GE Aerospace by 25.1% in the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock worth $8,065,000 after buying an additional 8,245 shares during the period. Global Assets Advisory LLC raised its stake in shares of GE Aerospace by 186.7% in the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after buying an additional 9,580 shares during the period. Finally, Leisure Capital Management bought a new position in shares of GE Aerospace in the first quarter worth about $222,000. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. 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 note on Monday, July 14th. Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company lifted their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

NYSE GE opened at $266.7680 on Friday. The stock has a market capitalization of $282.89 billion, a PE ratio of 37.21, a P/E/G ratio of 2.87 and a beta of 1.44. The business has a 50 day simple moving average of $259.88 and a two-hundred day simple moving average of $226.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last released 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. The business had revenue of $10.15 billion during 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 revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, research analysts predict that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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