Zurcher Kantonalbank Zurich Cantonalbank Sells 143,655 Shares of GE Aerospace (NYSE:GE)

Key Points

• Zurcher Kantonalbank reduced its stake in GE Aerospace by 22.2%, selling 143,655 shares and leaving it with 502,797 shares valued at approximately $100.6 million.
• Several institutional investors, including GAMMA Investing LLC which increased its holdings by 23,611.7%, have been actively adjusting their positions in GE Aerospace.
• GE Aerospace reported a quarterly earnings per share of $1.66, surpassing analysts' expectations of $1.43, along with a revenue of $10.15 billion, highlighting a 21.2% year-over-year increase.

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of GE Aerospace (NYSE:GE - Free Report) by 22.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 502,797 shares of the company's stock after selling 143,655 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in GE Aerospace were worth $100,635,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Age Alpha Advisors LLC lifted its holdings in shares of GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company's stock worth $25,000 after buying an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. Putney Financial Group LLC bought a new stake in shares of GE Aerospace during the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace during the first quarter valued at approximately $28,000. Finally, Copia Wealth Management increased its position in shares of 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 period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Northcoast Research lowered GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Royal Bank Of Canada boosted their price target on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.92.

GE Aerospace Trading Up 0.4%

NYSE GE traded up $1.22 on Wednesday, reaching $271.53. The company had a trading volume of 1,543,117 shares, compared to its average volume of 6,201,486. The stock's 50 day moving average is $249.79 and its 200-day moving average is $216.66. The stock has a market cap of $287.94 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 3.04 and a beta of 1.37. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $273.80.

GE Aerospace (NYSE:GE - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm's revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.53%. GE Aerospace's dividend payout ratio (DPR) is currently 20.08%.

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.