MUFG Securities EMEA plc Lowers Position in GE Aerospace (NYSE:GE)

Key Points

• MUFG Securities EMEA plc significantly reduced its stake in GE Aerospace by 81.5%, owning 48,000 shares after selling 211,999 shares in the first quarter.
• Other institutional investors, like Vanguard Group Inc. and Northern Trust Corp, have increased their holdings in GE Aerospace, indicating mixed sentiment among major shareholders.
• GE Aerospace's recent earnings report surpassed expectations, with $1.66 EPS reported against analysts' forecast of $1.43, driving its revenue up 21.2% year-over-year.

MUFG Securities EMEA plc reduced its position in GE Aerospace (NYSE:GE - Free Report) by 81.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,000 shares of the company's stock after selling 211,999 shares during the period. MUFG Securities EMEA plc's holdings in GE Aerospace were worth $9,607,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of GE Aerospace in the first quarter valued at $203,000. Sendero Wealth Management LLC grew its position 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 valued at $3,004,000 after purchasing an additional 12,613 shares during the period. Concurrent Investment Advisors LLC grew its position 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 valued at $8,065,000 after purchasing an additional 8,245 shares during the period. Global Assets Advisory LLC grew its position 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 valued at $2,751,000 after purchasing an additional 9,580 shares during the period. Finally, Leisure Capital Management purchased a new stake in shares of GE Aerospace in the first quarter valued at $222,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Price Performance

Shares of GE traded up $4.72 on Tuesday, hitting $279.92. The company's stock had a trading volume of 1,850,571 shares, compared to its average volume of 6,072,383. The company has a 50 day moving average price of $255.87 and a 200 day moving average price of $222.43. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $280.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The company has a market capitalization of $296.84 billion, a PE ratio of 39.04, a PEG ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. On average, research analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Barclays increased their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Company 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.