Sanders Morris Harris LLC Has $334,000 Holdings in GE Aerospace $GE

Key Points

• Sanders Morris Harris LLC significantly reduced its stake in GE Aerospace, selling 6,674 shares, leaving them with 1,299 shares valued at $334,000.
• GE Aerospace announced a quarterly dividend of $0.36 per share to be paid on October 27th, with an annualized yield of 0.5% and a payout ratio of 20.08%.
• A majority of brokerages have recently raised their price targets for GE Aerospace stock, with Wolfe Research and TD Cowen now setting targets at $330.00, indicating a positive outlook for the company.

Sanders Morris Harris LLC trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 83.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,299 shares of the company's stock after selling 6,674 shares during the quarter. Sanders Morris Harris LLC's holdings in GE Aerospace were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Dupree Financial Group LLC boosted its stake in shares of GE Aerospace by 2.4% during the second quarter. Dupree Financial Group LLC now owns 1,928 shares of the company's stock valued at $496,000 after purchasing an additional 45 shares in the last quarter. IMG Wealth Management Inc. boosted its stake in shares of GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company's stock valued at $29,000 after purchasing an additional 59 shares in the last quarter. Advantage Trust Co acquired a new stake in shares of GE Aerospace during the second quarter valued at about $77,000. Jackson Thornton Wealth Management LLC acquired a new stake in shares of GE Aerospace during the second quarter valued at about $349,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of GE Aerospace by 0.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 37,693 shares of the company's stock valued at $9,701,000 after purchasing an additional 149 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Trading Up 1.0%

Shares of GE stock opened at $303.15 on Tuesday. The company has a market cap of $321.48 billion, a P/E ratio of 42.28, a PEG ratio of 3.23 and a beta of 1.49. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The stock has a 50 day simple moving average of $286.62 and a two-hundred day simple moving average of $252.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04.

GE Aerospace Announces Dividend

The business 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 dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace's payout ratio is presently 20.08%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GE. Wolfe Research lifted their price target on GE Aerospace from $280.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. TD Cowen raised their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Royal Bank Of Canada raised their price objective on GE Aerospace from $300.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, GE Aerospace has a consensus rating of "Moderate Buy" and an average target price of $276.31.

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.

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