Greenwood Capital Associates LLC Sells 1,761 Shares of GE Aerospace $GE

Greenwood Capital Associates LLC reduced its position in GE Aerospace (NYSE:GE) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,544 shares of the company’s stock after selling 1,761 shares during the quarter. Greenwood Capital Associates LLC’s holdings in GE Aerospace were worth $7,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. boosted its stake in shares of GE Aerospace by 23.5% during the second quarter. Ameriflex Group Inc. now owns 1,742 shares of the company’s stock valued at $437,000 after purchasing an additional 331 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in GE Aerospace by 1.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 159,682 shares of the company’s stock worth $41,101,000 after buying an additional 2,779 shares during the period. Czech National Bank grew its holdings in GE Aerospace by 3.3% during the 3rd quarter. Czech National Bank now owns 269,330 shares of the company’s stock worth $81,020,000 after acquiring an additional 8,668 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in GE Aerospace by 7.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,120 shares of the company’s stock valued at $46,876,000 after acquiring an additional 11,873 shares during the period. Finally, Vigilare Wealth Management acquired a new position in GE Aerospace in the 2nd quarter valued at approximately $627,000. Institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Down 0.5%

Shares of NYSE:GE opened at $315.30 on Friday. The company has a market capitalization of $332.58 billion, a price-to-earnings ratio of 42.10, a P/E/G ratio of 2.45 and a beta of 1.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.08 and a quick ratio of 0.76. The business’s 50-day moving average is $301.31 and its 200-day moving average is $282.14. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $318.06.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.46 by $0.20. The business had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The firm’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities 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 will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be paid a $0.36 dividend. The ex-dividend date is Monday, December 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Citigroup started coverage on GE Aerospace in a report on Thursday, December 11th. They set a “buy” rating and a $386.00 target price on the stock. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. JPMorgan Chase & Co. lifted their price objective on GE Aerospace from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Wolfe Research upped their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $309.94.

Insider Activity

In related news, SVP Russell Stokes sold 8,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the transaction, the senior vice president directly owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single?aisle airliners to widebody and military platforms.

Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.