First National Trust Co Lowers Stock Position in GE Aerospace (NYSE:GE)

by · The Markets Daily

First National Trust Co lessened its stake in shares of GE Aerospace (NYSE:GE – Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,273 shares of the company’s stock after selling 806 shares during the quarter. First National Trust Co’s holdings in GE Aerospace were worth $655,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GE. GAMMA Investing LLC boosted its stake in shares of GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company’s stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the period. Janus Henderson Group PLC raised its holdings in GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company’s stock valued at $597,412,000 after acquiring an additional 1,673,365 shares in the last quarter. Invesco Ltd. raised its holdings in GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. FMR LLC raised its holdings in GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after acquiring an additional 965,012 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in GE Aerospace by 32.1% in the fourth quarter. Nuveen Asset Management LLC now owns 3,453,651 shares of the company’s stock valued at $576,034,000 after acquiring an additional 838,954 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup reaffirmed 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. Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Barclays raised their target price on shares of GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their target price on shares of GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, Northcoast Research cut shares of GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.92.

Check Out Our Latest Stock Report on GE

GE Aerospace Stock Performance

Shares of GE Aerospace stock opened at $270.90 on Friday. The firm’s fifty day simple moving average is $251.39 and its 200-day simple moving average is $217.73. The stock has a market capitalization of $287.27 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.94 and a beta of 1.37. GE Aerospace has a 12 month low of $150.20 and a 12 month high of $274.94. 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 announced its earnings results 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 for 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 quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. As a group, equities analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 payout ratio is 20.08%.

About GE Aerospace

(Free Report)

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.

See Also

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