Wellington Management Group LLP Trims Stock Position in GE Aerospace $GE

Key Points

• Wellington Management Group LLP reduced its holdings in GE Aerospace by 4.0%, owning approximately 0.23% of the company, worth $480.3 million after selling 99,329 shares.
• The stock has recently seen varied analyst ratings, with Wells Fargo raising its price target from $34 to $38, and others setting targets as high as $321, indicating a generally positive outlook.
• GE Aerospace reported $1.66 earnings per share for the last quarter, exceeding estimates and representing a 21.2% increase in revenue from the previous year.

Wellington Management Group LLP lessened its stake in GE Aerospace (NYSE:GE - Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,399,870 shares of the company's stock after selling 99,329 shares during the period. Wellington Management Group LLP owned about 0.23% of GE Aerospace worth $480,334,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GE. Vanguard Group Inc. boosted its position in GE Aerospace by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company's stock valued at $18,115,065,000 after buying an additional 692,124 shares during the period. Northern Trust Corp boosted its position in GE Aerospace by 5.8% in the 4th quarter. Northern Trust Corp now owns 10,046,867 shares of the company's stock valued at $1,675,717,000 after buying an additional 553,104 shares during the period. Invesco Ltd. boosted its position in GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company's stock valued at $1,921,344,000 after buying an additional 54,765 shares during the period. GQG Partners LLC purchased a new position in GE Aerospace in the 1st quarter valued at approximately $1,606,840,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in GE Aerospace by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company's stock valued at $1,198,382,000 after buying an additional 628,458 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. UBS Group raised their price target 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. Northcoast Research cut shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen raised shares of GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein reissued an "outperform" rating on shares of GE Aerospace in a research report on Friday, August 15th. Finally, Wells Fargo & Company lifted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Stock Down 0.7%

Shares of GE Aerospace stock traded down $1.9420 during trading on Friday, hitting $266.7680. 5,226,236 shares of the stock were exchanged, compared to its average volume of 4,185,270. The stock has a market cap of $282.89 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 2.87 and a beta of 1.44. The firm's 50-day moving average price is $259.88 and its 200 day moving average price is $226.54. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $281.50. 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 released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The business had revenue of $10.15 billion during 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 company's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 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.