GE Aerospace (NYSE:GE) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in GE Aerospace (NYSE:GE) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,578 shares of the company’s stock after selling 752 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in GE Aerospace were worth $15,131,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Rainey & Randall Wealth Advisors Inc. acquired a new position in shares of GE Aerospace during the first quarter worth about $203,000. Sendero Wealth Management LLC increased its stake in shares of GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after acquiring an additional 12,613 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after acquiring an additional 8,245 shares during the period. Global Assets Advisory LLC increased its stake in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after acquiring an additional 9,580 shares during the period. Finally, Invesco Ltd. increased its stake in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GE shares. 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. Royal Bank Of Canada boosted their price target on shares of GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Barclays boosted their price target on shares of GE Aerospace from $230.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Finally, Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.92.

GE Aerospace Stock Down 0.6%

GE stock opened at $269.49 on Friday. The company has a market cap of $285.78 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.92 and a beta of 1.44. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $274.94. The company’s 50-day moving average price is $252.13 and its 200 day moving average price is $218.37. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.23. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, research analysts expect that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

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