Nippon Life Global Investors Americas Inc. Sells 23,840 Shares of GE Aerospace $GE

Key Points

• Nippon Life Global Investors Americas Inc. has reduced its stake in GE Aerospace by 18.5%, now holding approximately $21.12 million worth of shares after selling 23,840 shares in the first quarter.
• Analysts have given GE Aerospace a strong outlook, with ten analysts rating it as a Buy and target prices being raised by firms like Barclays and Royal Bank of Canada.
• The company reported impressive earnings of $1.66 per share, exceeding expectations, with a 21.2% increase in revenue compared to the previous year.

Nippon Life Global Investors Americas Inc. lowered its position in GE Aerospace (NYSE:GE - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,360 shares of the company's stock after selling 23,840 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in GE Aerospace were worth $21,122,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. IMA Advisory Services Inc. acquired a new position in shares of GE Aerospace in the 1st quarter worth approximately $28,000. Copia Wealth Management raised its position in 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 purchasing an additional 142 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace in the 1st quarter valued at $30,000. O Brien Wealth Partners LLC acquired a new stake in GE Aerospace during the 1st quarter worth about $33,000. Finally, First Pacific Financial lifted its position in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Royal Bank Of Canada increased their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. UBS Group upped their price target 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, 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 company. Based on data from MarketBeat, GE Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

GE Aerospace Stock Performance

Shares of GE stock traded down $3.43 during trading hours on Monday, reaching $275.80. The stock had a trading volume of 5,003,225 shares, compared to its average volume of 5,902,261. The firm has a market capitalization of $292.47 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 3.00 and a beta of 1.48. 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 firm has a 50-day simple moving average of $266.25 and a 200-day simple moving average of $231.37. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $284.41.

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. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same period last year, the company posted $1.20 earnings per share. The business's revenue for the quarter 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, equities 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 issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, July 7th. GE Aerospace's payout ratio is 20.08%.

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.