Great Lakes Advisors LLC Reduces Stock Holdings in GE Aerospace $GE

by · The Markets Daily

Great Lakes Advisors LLC cut its stake in shares of GE Aerospace (NYSE:GE – Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,653 shares of the company’s stock after selling 4,712 shares during the period. Great Lakes Advisors LLC’s holdings in GE Aerospace were worth $37,759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock worth $18,115,065,000 after purchasing an additional 692,124 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the period. Invesco Ltd. boosted its position in shares of GE Aerospace by 0.6% in the first quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after purchasing an additional 54,765 shares during the period. GQG Partners LLC bought a new position in shares of GE Aerospace in the first quarter worth approximately $1,606,840,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of GE Aerospace by 9.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company’s stock valued at $1,198,382,000 after acquiring an additional 628,458 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Sanford C. Bernstein restated an “outperform” rating on shares of GE Aerospace in a research report on Friday, August 15th. Citigroup restated a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Northcoast Research downgraded GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, 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. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.92.

View Our Latest Research Report on GE Aerospace

GE Aerospace Trading Down 0.9%

Shares of GE stock opened at $279.65 on Monday. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $284.41. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $266.25 and its two-hundred day simple moving average is $231.37. The company has a market cap of $296.55 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 3.00 and a beta of 1.48.

GE Aerospace (NYSE:GE – Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.49 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. Research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, July 7th were given a dividend of $0.36 per share. The ex-dividend date was Monday, July 7th. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio is 20.08%.

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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