NorthCrest Asset Manangement LLC Sells 2,012 Shares of GE Aerospace $GE

Key Points

• NorthCrest Asset Management LLC reduced its stake in GE Aerospace by 30.4% during the 2nd quarter, leaving it with 4,611 shares valued at approximately $1,138,000.
• Analysts have raised their price targets for GE Aerospace, with Barclays increasing theirs from $230 to $295 and Citigroup from $227 to $296, indicating a positive outlook on the stock.
• GE Aerospace reported a 21.2% increase in quarterly revenue compared to last year, with earnings per share of $1.66 surpassing estimates, and has set guidance for FY 2025 earnings at 5.600-5.800 EPS.

NorthCrest Asset Manangement LLC lessened its position in GE Aerospace (NYSE:GE - Free Report) by 30.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,611 shares of the company's stock after selling 2,012 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in GE Aerospace were worth $1,138,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after acquiring an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of GE Aerospace by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after acquiring an additional 1,492,486 shares in the last quarter. Invesco Ltd. lifted its position in shares of GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after acquiring an additional 54,765 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of GE Aerospace in the 1st quarter valued at approximately $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company's stock valued at $1,536,387,000 after buying an additional 491,207 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

NYSE:GE traded up $4.53 during midday trading on Friday, reaching $301.62. The stock had a trading volume of 9,629,752 shares, compared to its average volume of 3,951,953. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $303.03. The firm's fifty day simple moving average is $273.62 and its 200-day simple moving average is $237.10. 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 stock has a market capitalization of $319.85 billion, a P/E ratio of 42.07, a PEG ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $9.49 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business's 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. On average, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio is 20.08%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GE. Royal Bank Of Canada upped their price objective on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Sanford C. Bernstein reiterated an "outperform" rating on shares of GE Aerospace in a research note on Friday, August 15th. Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $232.92.

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.