QRG Capital Management Inc. Lowers Stock Holdings in GE Aerospace $GE

Key Points

• QRG Capital Management Inc. reduced its stake in GE Aerospace by 9.7%, holding 237,751 shares after selling 25,665 shares, which now represents about 0.5% of its total investments.
• Analysts have raised their price targets for GE Aerospace, with UBS Group increasing its target from $300.00 to $321.00, reflecting growing investor confidence and a "buy" rating from multiple firms.
• GE Aerospace reported a quarterly earnings per share (EPS) of $1.66, surpassing estimates significantly, with revenues rising by 21.2% compared to the previous year.

QRG Capital Management Inc. trimmed its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 9.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 237,751 shares of the company's stock after selling 25,665 shares during the period. GE Aerospace makes up approximately 0.5% of QRG Capital Management Inc.'s holdings, making the stock its 26th largest position. QRG Capital Management Inc.'s holdings in GE Aerospace were worth $61,195,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Old North State Wealth Management LLC lifted its holdings in shares of GE Aerospace by 1.9% during the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company's stock valued at $542,000 after purchasing an additional 39 shares during the last quarter. Webster Bank N. A. raised its holdings in GE Aerospace by 2.1% in the 2nd quarter. Webster Bank N. A. now owns 1,970 shares of the company's stock worth $507,000 after acquiring an additional 41 shares during the last quarter. Pacific Sage Partners LLC raised its holdings in GE Aerospace by 3.5% in the 2nd quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company's stock worth $314,000 after acquiring an additional 41 shares during the last quarter. Ascent Capital Management LLC grew its position in GE Aerospace by 1.9% in the 2nd quarter. Ascent Capital Management LLC now owns 2,273 shares of the company's stock worth $585,000 after purchasing an additional 42 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in GE Aerospace by 1.1% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,046 shares of the company's stock worth $810,000 after purchasing an additional 43 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GE. UBS Group lifted their target price 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Aerospace in a research report on Saturday, September 27th. Wells Fargo & Company lifted their target price on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Jefferies Financial Group lifted 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. Finally, Barclays lifted their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, GE Aerospace presently has an average rating of "Moderate Buy" and an average price target of $241.92.

GE Aerospace Trading Down 0.7%

Shares of GE stock opened at $297.40 on Friday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The firm has a fifty day moving average price of $280.65 and a 200-day moving average price of $243.95. 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 company has a market cap of $315.38 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 3.22 and a beta of 1.49.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings data 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 net margin of 18.64% and a return on equity of 31.32%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The company's revenue for the quarter 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, equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

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 given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. 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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