GE Aerospace (NYSE:GE) Shares Sold by Woodard & Co. Asset Management Group Inc. ADV

Key Points

• Woodard & Co. Asset Management Group Inc. ADV reduced its stake in GE Aerospace by 12.6% during the first quarter, now holding 18,371 shares valued at approximately $3.68 million.
• GE Aerospace reported $1.66 EPS for its most recent quarter, surpassing the consensus estimate of $1.43 by $0.23, with year-over-year revenue growth of 21.2%.
• The company's recent quarterly dividend of $0.36 per share reflects an annualized yield of 0.53% and a payout ratio of 20.08%.

Woodard & Co. Asset Management Group Inc. ADV cut its position in GE Aerospace (NYSE:GE - Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,371 shares of the company's stock after selling 2,660 shares during the quarter. GE Aerospace accounts for 0.8% of Woodard & Co. Asset Management Group Inc. ADV's holdings, making the stock its 26th largest holding. Woodard & Co. Asset Management Group Inc. ADV's holdings in GE Aerospace were worth $3,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Prosperity Consulting Group LLC grew its stake in GE Aerospace by 2.7% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,407 shares of the company's stock worth $482,000 after purchasing an additional 63 shares in the last quarter. Vantage Financial Partners LLC acquired a new stake in GE Aerospace in the first quarter valued at $217,000. Galvin Gaustad & Stein LLC boosted its position in shares of GE Aerospace by 60.2% during the 1st quarter. Galvin Gaustad & Stein LLC now owns 70,922 shares of the company's stock worth $14,195,000 after acquiring an additional 26,655 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of GE Aerospace in the 1st quarter valued at about $62,000. Finally, Metis Global Partners LLC raised its position in shares of GE Aerospace by 6.6% during the 1st quarter. Metis Global Partners LLC now owns 58,700 shares of the company's stock worth $11,749,000 after acquiring an additional 3,623 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

GE Aerospace Price Performance

NYSE:GE traded down $0.65 during trading hours on Tuesday, reaching $269.96. 4,004,847 shares of the company traded hands, compared to its average volume of 6,234,036. The firm's 50-day moving average is $249.09 and its 200-day moving average is $216.28. The stock has a market cap of $286.28 billion, a P/E ratio of 37.65, a P/E/G ratio of 3.11 and a beta of 1.37. 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 has a 1-year low of $150.20 and a 1-year high of $273.80.

GE Aerospace (NYSE:GE - Get Free Report) last posted 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. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The business had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. Equities research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.53%. GE Aerospace's dividend payout ratio is currently 20.08%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Citigroup restated a "buy" rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Royal Bank Of Canada upped their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen raised GE Aerospace from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays upped their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Northcoast Research downgraded GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.