Arcus Capital Partners LLC Decreases Stake in GE Aerospace $GE

Arcus Capital Partners LLC reduced its stake in shares of GE Aerospace (NYSE:GE) by 17.8% in the second quarter, Holdings Channel reports. The firm owned 9,485 shares of the company’s stock after selling 2,048 shares during the period. GE Aerospace accounts for approximately 1.1% of Arcus Capital Partners LLC’s holdings, making the stock its 17th largest position. Arcus Capital Partners LLC’s holdings in GE Aerospace were worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of GE Aerospace by 25.3% in the 4th quarter. Brighton Jones LLC now owns 12,008 shares of the company’s stock valued at $2,003,000 after buying an additional 2,421 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in GE Aerospace by 7.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,251 shares of the company’s stock valued at $375,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC lifted its position in GE Aerospace by 18.5% during the first quarter. GAMMA Investing LLC now owns 25,311 shares of the company’s stock valued at $5,066,000 after purchasing an additional 3,946 shares during the period. LongView Wealth Management acquired a new stake in GE Aerospace during the first quarter worth about $285,000. Finally, Avior Wealth Management LLC grew its position in GE Aerospace by 4.8% during the first quarter. Avior Wealth Management LLC now owns 11,188 shares of the company’s stock valued at $2,239,000 after buying an additional 517 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Wolfe Research upped their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Citigroup reissued a “buy” rating and set a $296.00 price target (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Finally, TD Cowen upped their price target on GE Aerospace from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.13.

GE Aerospace Price Performance

GE Aerospace stock opened at $300.60 on Friday. The firm has a 50 day moving average price of $286.07 and a 200 day moving average price of $250.77. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. The company has a market cap of $318.77 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.23. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, September 29th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.44 annualized dividend and a yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is currently 20.08%.

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.