Ruffer LLP Lowers Stake in GE Aerospace (NYSE:GE)

Key Points

• Ruffer LLP reduced its stake in GE Aerospace by 2.3%, now holding approximately 99,615 shares worth nearly $19.94 million, making it the firm's 28th largest holding.
• Recent analyst upgrades raised the price target for GE Aerospace, with UBS Group boosting their estimate from $300 to $321, citing a "buy" rating.
• GE Aerospace reported strong quarterly earnings with an EPS of $1.66, exceeding expectations, and a significant revenue increase of 21.2% year-over-year.

Ruffer LLP reduced its position in GE Aerospace (NYSE:GE - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,615 shares of the company's stock after selling 2,324 shares during the quarter. GE Aerospace accounts for approximately 0.8% of Ruffer LLP's holdings, making the stock its 28th biggest holding. Ruffer LLP's holdings in GE Aerospace were worth $19,939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in GE Aerospace in the 1st quarter worth about $28,000. Copia Wealth Management grew 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 acquiring an additional 142 shares in the last quarter. O Brien Wealth Partners LLC bought a new position in GE Aerospace in the 1st quarter worth about $33,000. Sumitomo Mitsui Financial Group Inc. bought a new position in GE Aerospace in the 4th quarter worth about $28,000. Finally, First Pacific Financial grew its stake in GE Aerospace by 46.0% in the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

GE Aerospace Trading Down 0.7%

Shares of GE Aerospace stock traded down $1.81 during mid-day trading on Thursday, hitting $270.47. The stock had a trading volume of 625,583 shares, compared to its average volume of 6,113,263. The firm has a 50-day moving average of $254.17 and a two-hundred day moving average of $220.28. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $277.00. 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 firm has a market cap of $286.82 billion, a P/E ratio of 37.63, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44.

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 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 during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The business's revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. Northcoast Research lowered shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Barclays lifted their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, 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.