Premier Fund Managers Ltd Decreases Holdings in GE Aerospace (NYSE:GE)

Key Points

• Premier Fund Managers Ltd reduced its holdings in GE Aerospace by 6.2%, owning 45,950 shares worth approximately $9.18 million after selling 3,050 shares.
• Several institutional investors have increased their stakes in GE Aerospace, with Arrowstreet Capital notably boosting its holdings by 298.8% during the last quarter.
• Most analysts remain optimistic, with an average rating of "Moderate Buy" and a consensus price target of $232.92 following various target price upgrades across different firms.

Premier Fund Managers Ltd reduced its position in GE Aerospace (NYSE:GE - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,950 shares of the company's stock after selling 3,050 shares during the quarter. Premier Fund Managers Ltd's holdings in GE Aerospace were worth $9,181,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of GE. GAMMA Investing LLC boosted its stake in shares of GE Aerospace by 23,611.7% in the 1st quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Janus Henderson Group PLC boosted its stake in GE Aerospace by 87.7% during the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock worth $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. boosted its stake in GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. FMR LLC boosted its stake in GE Aerospace by 1.5% during the fourth quarter. FMR LLC now owns 66,823,968 shares of the company's stock worth $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in GE Aerospace by 32.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company's stock worth $576,034,000 after acquiring an additional 838,954 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Down 0.8%

Shares of GE stock traded down $2.24 on Friday, hitting $268.84. The stock had a trading volume of 3,080,420 shares, compared to its average volume of 6,189,252. The business has a 50 day moving average of $251.39 and a 200 day moving average of $217.73. The stock has a market cap of $285.09 billion, a price-to-earnings ratio of 37.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. GE Aerospace has a 12-month low of $150.20 and a 12-month high of $274.94.

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, 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 company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. As a group, analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research analyst reports. Barclays increased their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup reissued a "buy" rating and set a $296.00 target price (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Wells Fargo & Company upped their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $232.92.

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.