Procyon Advisors LLC Sells 1,263 Shares of GE Aerospace $GE

Key Points

• Procyon Advisors LLC reduced its holdings in GE Aerospace by 42.2% during Q2, now owning 1,729 shares valued at $445,000.
• Analysts have raised their price targets for GE Aerospace, with Royal Bank of Canada increasing its target from $275 to $300 and Citigroup from $227 to $296, reflecting strong growth expectations.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, exceeding analysts' estimates by $0.23, with a revenue of $10.15 billion for the quarter.

Procyon Advisors LLC decreased its position in shares of GE Aerospace (NYSE:GE - Free Report) by 42.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,729 shares of the company's stock after selling 1,263 shares during the period. Procyon Advisors LLC's holdings in GE Aerospace were worth $445,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of GE Aerospace by 17.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company's stock worth $1,647,000 after acquiring an additional 1,201 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of GE Aerospace during the first quarter worth about $203,000. Sendero Wealth Management LLC grew its position in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock worth $3,004,000 after buying an additional 12,613 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company's stock valued at $8,065,000 after buying an additional 8,245 shares during the period. Finally, Global Assets Advisory LLC increased its stake in GE Aerospace by 186.7% during the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock worth $2,751,000 after buying an additional 9,580 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Performance

GE traded down $3.18 on Monday, reaching $297.96. 1,434,143 shares of the stock were exchanged, compared to its average volume of 5,807,023. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $303.03. The company's 50-day moving average price is $273.62 and its 200 day moving average price is $237.38. 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 capitalization of $315.97 billion, a PE ratio of 41.49, a PEG ratio of 3.24 and a beta of 1.48.

GE Aerospace (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The business's revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, sell-side analysts forecast that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 29th. GE Aerospace's dividend payout ratio (DPR) is 20.08%.

Analyst Upgrades and Downgrades

A number of analysts have commented on GE shares. Citigroup restated 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. Royal Bank Of Canada increased their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. UBS Group lifted their price objective 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. Wall Street Zen cut GE Aerospace from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Jefferies Financial Group increased their price target on GE Aerospace from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $241.92.

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.