Westwood Holdings Group Inc. Reduces Holdings in GE Aerospace (NYSE:GE)

Key Points

• Westwood Holdings Group Inc. sold 4,412 shares of GE Aerospace, reducing its holdings by 28.2% and leaving it with 11,206 shares valued at approximately $2.24 million.
• GE Aerospace reported an earnings per share (EPS) of $1.66 for the last quarter, exceeding analysts' expectations by $0.23, with revenues increasing by 21.2% year-over-year.
• The company announced a quarterly dividend of $0.36, representing a 0.5% yield, while analysts from multiple firms have raised their price targets for GE Aerospace's stock.

Westwood Holdings Group Inc. lowered its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 28.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,206 shares of the company's stock after selling 4,412 shares during the quarter. Westwood Holdings Group Inc.'s holdings in GE Aerospace were worth $2,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Putney Financial Group LLC bought a new position in shares of GE Aerospace in the fourth quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the 1st quarter worth approximately $28,000. Copia Wealth Management increased its holdings in GE Aerospace by 14,200.0% in the 1st quarter. Copia Wealth Management now owns 143 shares of the company's stock worth $29,000 after acquiring an additional 142 shares in the last quarter. First Pacific Financial raised its stake in GE Aerospace by 46.0% during the 1st quarter. First Pacific Financial now owns 165 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the period. Finally, O Brien Wealth Partners LLC purchased a new position in GE Aerospace during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE stock traded up $2.93 on Friday, reaching $274.95. The company's stock had a trading volume of 4,378,663 shares, compared to its average volume of 6,157,504. The stock's fifty day simple moving average is $255.31 and its 200-day simple moving average is $221.73. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $277.18. 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 market capitalization of $291.57 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.44.

GE Aerospace (NYSE:GE - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating 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 firm had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the firm posted $1.20 earnings per share. GE Aerospace's revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio (DPR) is presently 20.08%.

Analysts Set New Price Targets

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