Newbrook Capital Advisors LP Trims Stake in GE Aerospace $GE

Key Points

• Newbrook Capital Advisors LP has reduced its holding in GE Aerospace by 33.2%, owning 115,103 shares after selling 57,323 shares during the first quarter.
• GE Aerospace reported $1.66 EPS for the last quarter, exceeding the consensus estimate of $1.43, alongside a revenue of $10.15 billion, marking a 21.2% increase from the previous year.
• The company declared a quarterly dividend of $0.36 per share, representing an annualized yield of 0.5% and a dividend payout ratio of 20.08%.

Newbrook Capital Advisors LP trimmed its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 33.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 115,103 shares of the company's stock after selling 57,323 shares during the quarter. GE Aerospace comprises about 3.6% of Newbrook Capital Advisors LP's portfolio, making the stock its 13th biggest holding. Newbrook Capital Advisors LP's holdings in GE Aerospace were worth $23,038,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Putney Financial Group LLC acquired a new stake in shares of GE Aerospace in the fourth quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in GE Aerospace during the first quarter worth approximately $28,000. Copia Wealth Management grew its stake in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace during the first quarter worth approximately $30,000. Finally, First Pacific Financial grew its stake in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GE. Barclays raised their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Wall Street Zen lowered GE Aerospace from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Ten research 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 has a consensus rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

Shares of NYSE GE traded up $6.00 during mid-day trading on Thursday, hitting $281.93. The company had a trading volume of 3,225,872 shares, compared to its average volume of 5,902,824. The company has a market capitalization of $298.97 billion, a price-to-earnings ratio of 39.32, a P/E/G ratio of 2.96 and a beta of 1.48. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $282.05. 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 stock's 50-day moving average price is $265.14 and its 200-day moving average price is $230.08.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.44 dividend on an annualized basis 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.