PFG Investments LLC Sells 3,418 Shares of GE Aerospace $GE

Key Points

• PFG Investments LLC has reduced its stake in GE Aerospace by 12.9%, owning 23,062 shares after selling 3,418 shares, with holdings valued at approximately $5.94 million.
• Analyst ratings for GE Aerospace have varied, with Jefferies Financial Group upgrading its price target to $350 and a rating of "buy," while Wall Street Zen downgraded it to "hold."
• The company reported earnings of $1.66 per share for the last quarter, significantly exceeding expectations, and has announced a quarterly dividend of $0.36 per share.

PFG Investments LLC reduced its stake in GE Aerospace (NYSE:GE - Free Report) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,062 shares of the company's stock after selling 3,418 shares during the period. PFG Investments LLC's holdings in GE Aerospace were worth $5,936,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GE. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management boosted 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 worth $29,000 after purchasing an additional 142 shares during the period. Nova Wealth Management Inc. bought a new position in GE Aerospace in the 1st quarter worth about $29,000. Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace in the first quarter valued at approximately $30,000. Finally, First Pacific Financial boosted its position in shares of GE Aerospace by 46.0% in the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after acquiring an additional 52 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of GE Aerospace from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Jefferies Financial Group raised their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a report on Friday, August 15th. Royal Bank Of Canada lifted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, Barclays lifted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $241.92.

GE Aerospace Trading Up 2.6%

Shares of GE stock opened at $301.18 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $278.71 and a two-hundred day moving average price of $242.20. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25. The firm has a market cap of $319.38 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 3.16 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last released 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 the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.GE Aerospace's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Equities 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace's payout ratio is presently 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.

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