GE Aerospace (NYSE:GE) Position Trimmed by Baker Avenue Asset Management LP

by · The Markets Daily

Baker Avenue Asset Management LP decreased its holdings in shares of GE Aerospace (NYSE:GE – Free Report) by 2.1% in the 1st quarter, Holdings Channel reports. The firm owned 102,125 shares of the company’s stock after selling 2,184 shares during the quarter. Baker Avenue Asset Management LP’s holdings in GE Aerospace were worth $20,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC increased its stake in GE Aerospace by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the company’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in GE Aerospace during the fourth quarter valued at $28,000. Putney Financial Group LLC bought a new stake in GE Aerospace during the fourth quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in GE Aerospace during the first quarter valued at $28,000. Finally, Copia Wealth Management increased its stake in 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 last quarter. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $270.90 on Friday. 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’s 50-day moving average price is $251.39 and its two-hundred day moving average price is $217.73. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $274.94. The stock has a market cap of $287.27 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.37.

GE Aerospace (NYSE:GE – Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the business earned $1.20 earnings per share. GE Aerospace’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 20.08%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Barclays boosted their price target 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. Citigroup reissued a “buy” rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.92.

View Our Latest Research Report on GE Aerospace

GE Aerospace Profile

(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.

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