Sei Investments Co. Sells 10,059 Shares of GE Aerospace (NYSE:GE)

Key Points

• Sei Investments Co. has reduced its stake in GE Aerospace by 1.0%, now holding 1,039,809 shares valued at approximately $208 million, making it the fund's 9th largest position.
• GE Aerospace reported earnings of $1.66 per share, exceeding estimates by $0.23, with a revenue of $10.15 billion for the quarter, up 21.2% compared to the previous year.
• The company recently announced a quarterly dividend of $0.36 per share, representing an annual yield of 0.5% and a dividend payout ratio of 20.08%.

Sei Investments Co. lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,039,809 shares of the company's stock after selling 10,059 shares during the period. GE Aerospace accounts for 2.0% of Sei Investments Co.'s portfolio, making the stock its 9th biggest holding. Sei Investments Co. owned about 0.10% of GE Aerospace worth $208,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company's stock valued at $2,003,000 after acquiring an additional 2,421 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in GE Aerospace by 7.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company's stock valued at $375,000 after acquiring an additional 150 shares during the last quarter. XTX Topco Ltd lifted its holdings in GE Aerospace by 163.8% in the 4th quarter. XTX Topco Ltd now owns 3,355 shares of the company's stock valued at $560,000 after acquiring an additional 2,083 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in GE Aerospace in the 4th quarter valued at about $257,000. Finally, Bridgewater Associates LP lifted its holdings in GE Aerospace by 8.4% in the 4th quarter. Bridgewater Associates LP now owns 222,843 shares of the company's stock valued at $37,168,000 after acquiring an additional 17,228 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

GE Aerospace Stock Down 0.8%

NYSE:GE traded down $2.08 during mid-day trading on Friday, reaching $267.62. The stock had a trading volume of 5,202,309 shares, compared to its average volume of 4,687,750. The business's 50 day moving average is $257.44 and its 200 day moving average is $224.35. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50. The stock has a market cap of $283.79 billion, a P/E ratio of 37.32, a PEG ratio of 2.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73.

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

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued 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 (DPR) is presently 20.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GE. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a report on Monday, May 19th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of GE Aerospace in a research note on Friday. UBS Group upped their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.