Birmingham Capital Management Co. Inc. AL Lowers Position in GE Aerospace $GE

Birmingham Capital Management Co. Inc. AL lessened its holdings in GE Aerospace (NYSE:GE) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,876 shares of the company’s stock after selling 250 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in GE Aerospace were worth $2,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Old North State Wealth Management LLC raised its position in shares of GE Aerospace by 1.9% in the second quarter. Old North State Wealth Management LLC now owns 2,101 shares of the company’s stock worth $542,000 after buying an additional 39 shares in the last quarter. Stephens Consulting LLC increased its stake in GE Aerospace by 18.0% in the second quarter. Stephens Consulting LLC now owns 256 shares of the company’s stock valued at $66,000 after acquiring an additional 39 shares during the last quarter. Webster Bank N. A. increased its stake in GE Aerospace by 2.1% in the second quarter. Webster Bank N. A. now owns 1,970 shares of the company’s stock valued at $507,000 after acquiring an additional 41 shares during the last quarter. Pacific Sage Partners LLC increased its stake in GE Aerospace by 3.5% in the second quarter. Pacific Sage Partners LLC now owns 1,220 shares of the company’s stock valued at $314,000 after acquiring an additional 41 shares during the last quarter. Finally, Ascent Capital Management LLC increased its stake in GE Aerospace by 1.9% in the second quarter. Ascent Capital Management LLC now owns 2,273 shares of the company’s stock valued at $585,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 0.3%

NYSE GE opened at $300.60 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.73. The stock has a market capitalization of $318.77 billion, a PE ratio of 41.92, a PEG ratio of 3.23 and a beta of 1.49. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $307.25. The business’s 50-day moving average is $286.07 and its 200 day moving average is $251.22.

GE Aerospace (NYSE:GE) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.66 EPS for the quarter, topping 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 business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business posted $1.20 earnings per share. GE Aerospace’s quarterly revenue was up 21.2% compared to the same quarter last year. Sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued a $0.36 dividend. The ex-dividend date 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 20.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GE shares. Zacks Research cut GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. UBS Group increased their target price on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 target price on shares of GE Aerospace in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on GE Aerospace from $34.00 to $38.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut GE Aerospace from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.31.

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.