Newport Trust Company LLC Has $2.78 Billion Stake in GE Aerospace $GE

Key Points

• Newport Trust Company LLC decreased its stake in GE Aerospace by 8.2%, holding approximately 1.30% of the company worth $2.77 billion after selling over 1.24 million shares.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, significantly exceeding analysts' estimate of $1.43 and achieving a 21.2% year-over-year revenue increase.
• Several analysts have upgraded their ratings on GE Aerospace, with Citigroup issuing a target price of $296, reflecting confidence in the stock's growth potential.

Newport Trust Company LLC lowered its holdings in GE Aerospace (NYSE:GE - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,872,657 shares of the company's stock after selling 1,244,707 shares during the period. GE Aerospace makes up 7.1% of Newport Trust Company LLC's portfolio, making the stock its 6th biggest position. Newport Trust Company LLC owned about 1.30% of GE Aerospace worth $2,776,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management boosted its holdings in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares during the period. O Brien Wealth Partners LLC acquired a new stake in GE Aerospace in the first quarter valued at approximately $33,000. First Pacific Financial raised its stake in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, POM Investment Strategies LLC raised its stake in shares of GE Aerospace by 1,078.6% during the first quarter. POM Investment Strategies LLC now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Barclays boosted their price target 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 reissued a "buy" rating and issued a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Performance

Shares of GE Aerospace stock traded down $1.9420 during trading hours on Friday, reaching $266.7680. The company's stock had a trading volume of 5,226,236 shares, compared to its average volume of 4,185,270. GE Aerospace has a one year low of $159.36 and a one year high of $281.50. The company's 50 day simple moving average is $259.88 and its 200 day simple moving average is $226.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $282.89 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 2.87 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. GE Aerospace's quarterly revenue was up 21.2% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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