Senator Investment Group LP Trims Stock Holdings in GE Aerospace $GE

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Senator Investment Group LP decreased its stake in GE Aerospace (NYSE:GE - Free Report) by 68.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the company's stock after selling 191,963 shares during the quarter. Senator Investment Group LP's holdings in GE Aerospace were worth $18,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. First Pacific Financial grew its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace during the first quarter worth about $33,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GE. Citigroup reiterated a "buy" rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $232.92.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $268.46 on Tuesday. The stock has a 50 day moving average of $257.78 and a 200 day moving average of $224.93. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50. The firm has a market cap of $284.69 billion, a PE ratio of 37.44, a PEG ratio of 2.88 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

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 analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. On average, research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.