Mizuho Securities USA LLC Trims Stock Position in GE Aerospace (NYSE:GE)

Key Points

• Mizuho Securities USA LLC reduced its stake in GE Aerospace by 16.2% in Q1, now holding shares valued at $17.20 million after selling 16,639 shares.
• GE Aerospace reported earnings of $1.66 per share for the last quarter, exceeding estimates by $0.23, and had a revenues of $10.15 billion, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.36 per share, resulting in an annualized yield of 0.5% with a payout ratio of 20.08%.

Mizuho Securities USA LLC lowered its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 16.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 85,938 shares of the company's stock after selling 16,639 shares during the period. Mizuho Securities USA LLC's holdings in GE Aerospace were worth $17,200,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Putney Financial Group LLC bought a new position in GE Aerospace in the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in GE Aerospace in the first quarter valued at approximately $28,000. Copia Wealth Management boosted its stake in GE Aerospace by 14,200.0% in the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. First Pacific Financial boosted its stake in GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Finally, O Brien Wealth Partners LLC bought a new position in GE Aerospace in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.77% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on GE. Barclays increased their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group raised their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company raised their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price objective 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

NYSE GE traded up $4.64 during trading on Tuesday, reaching $279.84. The company's stock had a trading volume of 2,030,926 shares, compared to its average volume of 6,073,258. The firm has a 50 day moving average price of $255.87 and a 200 day moving average price of $222.43. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $280.54. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $296.75 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

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 (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 analysts' expectations of $9.49 billion. During the same period in the prior year, the company posted $1.20 EPS. The company's revenue was up 21.2% on a year-over-year basis. As a group, equities analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is 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.