Phoenix Financial Ltd. Sells 1,493 Shares of GE Aerospace (NYSE:GE)

Key Points

• Phoenix Financial Ltd. reduced its stake in GE Aerospace by 6.6%, now holding 21,258 shares worth $4,261,000.
• Analysts have a consensus rating of "Moderate Buy" for GE Aerospace, with price targets ranging from $232.92 to $321.00.
• GE Aerospace reported strong quarterly earnings with an EPS of $1.66, significantly outperforming the consensus estimate and showing a 21.2% increase in revenue year-over-year.

Phoenix Financial Ltd. lessened its holdings in GE Aerospace (NYSE:GE - Free Report) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,258 shares of the company's stock after selling 1,493 shares during the quarter. Phoenix Financial Ltd.'s holdings in GE Aerospace were worth $4,261,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GE. Brighton Jones LLC lifted its position in shares of GE Aerospace by 25.3% in the fourth quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock worth $2,003,000 after purchasing an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC raised its position in GE Aerospace by 7.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock worth $375,000 after acquiring an additional 150 shares in the last quarter. Congress Wealth Management LLC DE raised its position in GE Aerospace by 7.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 8,826 shares of the company's stock worth $1,472,000 after acquiring an additional 591 shares in the last quarter. Ausdal Financial Partners Inc. raised its position in GE Aerospace by 4.6% during the fourth quarter. Ausdal Financial Partners Inc. now owns 4,407 shares of the company's stock worth $735,000 after acquiring an additional 193 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its position in GE Aerospace by 32.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 64,557 shares of the company's stock worth $10,767,000 after acquiring an additional 15,788 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GE shares. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Citigroup reaffirmed a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Barclays upped their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday. UBS Group upped their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Trading Up 1.2%

GE stock opened at $271.28 on Friday. 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 company's 50-day simple moving average is $248.37 and its 200 day simple moving average is $215.00. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $272.83. The company has a market capitalization of $287.67 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.37.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating 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 business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company posted $1.20 earnings per share. GE Aerospace's revenue was up 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the sale, the senior vice president directly owned 8,805 shares in the company, valued at $1,766,899.35. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company's stock.

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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