Ruffer LLP Trims Holdings 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 lessened its stake in shares of GE Aerospace (NYSE:GE - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,615 shares of the company's stock after selling 2,324 shares during the period. GE Aerospace comprises about 0.8% of Ruffer LLP's holdings, making the stock its 28th biggest position. Ruffer LLP's holdings in GE Aerospace were worth $19,939,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of GE Aerospace in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter valued at approximately $28,000. Copia Wealth Management lifted its position in GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Finally, First Pacific Financial lifted its position in GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GE. Citigroup reissued a "buy" rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Stock Performance

GE traded down $3.08 during midday trading on Tuesday, hitting $273.15. 320,386 shares of the company traded hands, compared to its average volume of 6,142,613. 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 capitalization of $289.66 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.90 and a beta of 1.44. The company's 50-day moving average is $252.99 and its 200 day moving average is $219.56. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $277.00.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. On average, research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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