Longbow Finance SA Decreases Stock Position in GE Aerospace (NYSE:GE)

Key Points

• Longbow Finance SA sold 9,813 shares of GE Aerospace, reducing its stake by 17.7%, resulting in ownership of 45,696 shares valued at $9,146,000.
• Recent analyst reports have shown mixed sentiments, with Wells Fargo raising the price target to $38.00 and Citigroup issuing a revised target price of $296.00.
• GE Aerospace announced a quarterly dividend of $0.36 per share, yielding 0.54%, to be paid on July 25th.

Longbow Finance SA lessened its holdings in GE Aerospace (NYSE:GE - Free Report) by 17.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,696 shares of the company's stock after selling 9,813 shares during the period. GE Aerospace accounts for approximately 1.1% of Longbow Finance SA's portfolio, making the stock its 26th largest holding. Longbow Finance SA's holdings in GE Aerospace were worth $9,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC raised its position in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in GE Aerospace during the fourth quarter valued at about $28,000. Putney Financial Group LLC purchased a new stake in GE Aerospace during the fourth quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the first quarter valued at about $28,000. Finally, Copia Wealth Management grew its stake in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Activity

In other news, SVP Mohamed Ali sold 1,602 shares of GE Aerospace stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Northcoast Research cut GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group raised their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company raised their target price on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday. Finally, Royal Bank Of Canada raised their target price on GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Stock Up 1.2%

GE traded up $3.27 on Friday, hitting $271.28. The company had a trading volume of 4,597,132 shares, compared to its average volume of 7,770,745. 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 52-week low of $150.20 and a 52-week high of $272.83. The stock has a fifty day simple moving average of $248.37 and a 200-day simple moving average of $215.00. The firm has a market capitalization of $287.67 billion, a P/E ratio of 37.84, a P/E/G ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) 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 analyst estimates of $9.49 billion. During the same period last year, the business earned $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's payout ratio 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.