Credit Agricole S A Trims Stock Holdings in GE Aerospace $GE

Credit Agricole S A reduced its stake in GE Aerospace (NYSE:GE) by 62.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 637,152 shares of the company’s stock after selling 1,070,455 shares during the period. Credit Agricole S A’s holdings in GE Aerospace were worth $127,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Putney Financial Group LLC purchased a new stake in GE Aerospace in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in GE Aerospace during the first quarter worth about $28,000. 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 worth $29,000 after purchasing an additional 142 shares during the period. First Pacific Financial increased its stake in 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 during the period. Finally, O Brien Wealth Partners LLC purchased a new stake in GE Aerospace during the first quarter worth about $33,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Up 0.2%

GE stock opened at $268.46 on Tuesday. The company’s 50 day moving average price is $257.78 and its 200 day moving average price is $224.93. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $281.50. The firm has a market capitalization of $284.69 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.88 and a beta of 1.44.

GE Aerospace (NYSE:GE) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $9.49 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is 20.08%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GE shares. Wells Fargo & Company boosted their price target on shares of GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Citigroup reiterated a “buy” rating and set a $296.00 price target (up from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Northcoast Research lowered shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, UBS Group boosted their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $232.92.

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.