Senator Investment Group LP Trims Stock Holdings in GE Aerospace $GE

Senator Investment Group LP decreased its stake in GE Aerospace (NYSE:GE) by 68.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the company’s stock after selling 191,963 shares during the quarter. Senator Investment Group LP’s holdings in GE Aerospace were worth $18,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Putney Financial Group LLC purchased a new stake in shares of GE Aerospace during the fourth quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Aerospace during the first quarter worth about $28,000. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% during the first quarter. Copia Wealth Management now owns 143 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. First Pacific Financial grew its position in shares of GE Aerospace by 46.0% during the first quarter. First Pacific Financial now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of GE Aerospace during the first quarter worth about $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GE. Citigroup reiterated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Barclays increased their target price on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded GE Aerospace from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.92.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $268.46 on Tuesday. The stock has a 50 day moving average of $257.78 and a 200 day moving average of $224.93. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $281.50. The firm has a market cap of $284.69 billion, a PE ratio of 37.44, a PEG ratio of 2.88 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last announced its quarterly 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 company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The firm’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. On average, research analysts expect that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

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

GE Aerospace 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.