Wedbush Securities Inc. Decreases Stock Position in GE Aerospace $GE

Wedbush Securities Inc. trimmed its holdings in shares of GE Aerospace (NYSE:GE) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,702 shares of the company’s stock after selling 1,143 shares during the quarter. Wedbush Securities Inc.’s holdings in GE Aerospace were worth $3,269,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in GE Aerospace by 0.8% in the first quarter. Vanguard Group Inc. now owns 90,507,442 shares of the company’s stock valued at $18,115,065,000 after acquiring an additional 692,124 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after acquiring an additional 1,492,486 shares in the last quarter. Invesco Ltd. increased its position in shares of GE Aerospace by 0.6% in the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after purchasing an additional 54,765 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of GE Aerospace in the 1st quarter valued at about $1,606,840,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of GE Aerospace by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,676,180 shares of the company’s stock valued at $1,536,387,000 after purchasing an additional 491,207 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GE. Barclays lifted their price target on GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Citigroup reiterated a “buy” rating and issued a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. TD Cowen boosted 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. The Goldman Sachs Group raised their price objective on GE Aerospace from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Monday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.27.

GE Aerospace Trading Up 0.7%

Shares of NYSE GE opened at $307.28 on Friday. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $316.67. The company has a market cap of $324.13 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 3.09 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. The stock’s 50 day simple moving average is $296.88 and its 200 day simple moving average is $264.04.

GE Aerospace (NYSE:GE) last issued its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.20. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates 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 for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Equities research analysts expect that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were given a dividend of $0.36 per share. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio is currently 19.23%.

About GE Aerospace

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.