Pelham Capital Ltd. Sells 20,360 Shares of GE Aerospace $GE

Key Points

• Pleham Capital Ltd. reduced its stake in GE Aerospace by 20.3%, selling 20,360 shares during the second quarter, bringing its total holdings to 79,848 shares, valued at approximately $20.55 million.
• GE Aerospace reported a quarterly earnings per share of $1.66, exceeding analyst estimates of $1.43, with revenue reaching $10.15 billion, up 21.2% year-over-year.
• The company has announced a quarterly dividend of $0.36 per share, with a dividend yield of 0.5%, set to be paid on October 27th.

Pelham Capital Ltd. cut its holdings in GE Aerospace (NYSE:GE - Free Report) by 20.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,848 shares of the company's stock after selling 20,360 shares during the quarter. GE Aerospace accounts for 9.6% of Pelham Capital Ltd.'s investment portfolio, making the stock its 3rd largest holding. Pelham Capital Ltd.'s holdings in GE Aerospace were worth $20,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the 1st quarter valued at about $28,000. Copia Wealth Management grew its stake in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after buying an additional 142 shares in the last quarter. Nova Wealth Management Inc. purchased a new position in shares of GE Aerospace in the first quarter valued at $29,000. Wealth Preservation Advisors LLC purchased a new position in GE Aerospace during the 1st quarter valued at about $30,000. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the first quarter valued at approximately $33,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.2%

NYSE:GE opened at $301.41 on Thursday. The company has a 50-day moving average of $279.49 and a 200 day moving average of $242.61. 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 market cap of $319.63 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $307.25.

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

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's dividend payout ratio is currently 20.08%.

Analyst Ratings Changes

Several brokerages recently issued reports on GE. Jefferies Financial Group upped their target price on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. UBS Group lifted their price objective on GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Barclays boosted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.92.

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.

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