Newbrook Capital Advisors LP Lowers Stock Position in GE Aerospace (NYSE:GE)

Newbrook Capital Advisors LP cut its holdings in shares of GE Aerospace (NYSE:GE) by 25.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 172,426 shares of the company’s stock after selling 60,212 shares during the period. GE Aerospace accounts for 3.7% of Newbrook Capital Advisors LP’s holdings, making the stock its 12th biggest holding. Newbrook Capital Advisors LP’s holdings in GE Aerospace were worth $28,759,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GE. Truvestments Capital LLC lifted its stake in GE Aerospace by 26.2% in the 4th quarter. Truvestments Capital LLC now owns 236 shares of the company’s stock worth $39,000 after acquiring an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in shares of GE Aerospace by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the company’s stock valued at $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC raised its position in GE Aerospace by 2.5% in the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the company’s stock worth $349,000 after purchasing an additional 51 shares in the last quarter. Blue Barn Wealth LLC grew its holdings in shares of GE Aerospace by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the company’s stock worth $245,000 after purchasing an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its holdings in shares of GE Aerospace by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the company’s stock worth $96,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on GE. UBS Group upped their price objective on GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Wells Fargo & Company raised their target price on GE Aerospace from $212.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Bank of America upped their price objective on GE Aerospace from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic started coverage on GE Aerospace in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $220.00 target price on shares of GE Aerospace in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.92.

GE Aerospace Price Performance

NYSE:GE opened at $221.55 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. GE Aerospace has a one year low of $150.20 and a one year high of $223.55. The firm’s fifty day moving average is $196.07 and its two-hundred day moving average is $188.48. The firm has a market cap of $236.26 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.59 and a beta of 1.31.

GE Aerospace (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.06 billion. Research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.65%. This is a boost from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. GE Aerospace’s payout ratio is 22.40%.

Insider Activity

In other news, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total transaction of $807,379.92. Following the completion of the sale, the vice president now directly owns 11,540 shares of the company’s stock, valued at $2,270,264.20. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the transaction, the senior vice president now directly owns 8,805 shares of the company’s stock, valued at $1,766,899.35. This represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.