Strategic Advocates LLC Trims Holdings in GE Aerospace (NYSE:GE)

Key Points

• Strategic Advocates LLC has reduced its stake in GE Aerospace by 22%, selling 3,399 shares and now holding 12,034 shares worth approximately $2.41 million.
• Despite this reduction, several major hedge funds like FMR LLC and Invesco Ltd. have increased their stakes in GE Aerospace, which is now heavily owned by institutional investors at 74.77%.
• GE Aerospace recently reported earnings exceeding expectations, with a quarterly revenue of $10.15 billion, contributing to a 21.2% year-over-year increase, along with a quarterly dividend of $0.36 per share.

Strategic Advocates LLC lessened its position in shares of GE Aerospace (NYSE:GE - Free Report) by 22.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,034 shares of the company's stock after selling 3,399 shares during the quarter. GE Aerospace comprises about 0.8% of Strategic Advocates LLC's investment portfolio, making the stock its 20th largest position. Strategic Advocates LLC's holdings in GE Aerospace were worth $2,409,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GE. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace in the first quarter worth about $28,000. Copia Wealth Management boosted 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. New Age Alpha Advisors LLC boosted its position in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. O Brien Wealth Partners LLC acquired a new position in GE Aerospace during the first quarter valued at approximately $33,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new position in GE Aerospace during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.77% of the company's stock.

GE Aerospace Stock Down 0.6%

GE Aerospace stock traded down $1.59 during midday trading on Friday, reaching $269.49. The stock had a trading volume of 4,380,267 shares, compared to its average volume of 6,337,291. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $252.13 and a two-hundred day moving average price of $218.37. The company has a market capitalization of $285.78 billion, a P/E ratio of 37.59, a PEG ratio of 2.92 and a beta of 1.44. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $274.94.

GE Aerospace (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm's quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. 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 note on Monday, July 14th. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Barclays raised their price objective on GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $232.92.

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.