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

A number of other hedge funds have also added to or reduced their stakes in GE. Wealthspire Advisors LLC increased its stake in shares of GE Aerospace by 4.6% in the 1st quarter. Wealthspire Advisors LLC now owns 22,041 shares of the company's stock valued at $4,411,000 after purchasing an additional 975 shares during the last quarter. Leisure Capital Management acquired a new position in GE Aerospace during the first quarter worth about $222,000. iA Global Asset Management Inc. lifted its holdings in shares of GE Aerospace by 51.7% in the first quarter. iA Global Asset Management Inc. now owns 266,741 shares of the company's stock worth $53,388,000 after acquiring an additional 90,944 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of GE Aerospace in the first quarter worth about $146,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of GE Aerospace by 11.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,561 shares of the company's stock valued at $512,000 after purchasing an additional 256 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Up 0.1%

Shares of GE opened at $272.35 on Thursday. The stock's 50-day moving average price is $254.17 and its two-hundred day moving average price is $220.28. 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 $288.81 billion, a PE ratio of 37.98, a PEG ratio of 2.93 and a beta of 1.44. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $277.00.

GE Aerospace (NYSE:GE - Get Free Report) last released 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 business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Announces Dividend

The company 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 annualized dividend and a yield of 0.5%. GE Aerospace's payout ratio is 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a report on Friday, July 18th. UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

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