Cumberland Partners Ltd reduced its position in shares of GE Aerospace (NYSE:GE – Free Report) by 36.3% in the 1st quarter, HoldingsChannel reports. The firm owned 17,250 shares of the company’s stock after selling 9,815 shares during the period. Cumberland Partners Ltd’s holdings in GE Aerospace were worth $4,895,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Blueline Advisors LLC acquired a new position in GE Aerospace during the 4th quarter worth approximately $25,000. Ankerstar Wealth LLC acquired a new stake in shares of GE Aerospace in the 4th quarter valued at approximately $31,000. Tucker Asset Management LLC purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $32,000. Lifetime Wealth Management P.C. purchased a new stake in shares of GE Aerospace in the fourth quarter valued at approximately $40,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in GE Aerospace by 72.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 141 shares of the company’s stock worth $42,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.
GE Aerospace Stock Up 1.4%
GE stock opened at $353.71 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.67. The company’s 50 day simple moving average is $341.50 and its 200-day simple moving average is $319.67. GE Aerospace has a 12 month low of $261.71 and a 12 month high of $382.97. The firm has a market capitalization of $367.00 billion, a PE ratio of 41.66, a P/E/G ratio of 2.67 and a beta of 1.35.
GE Aerospace Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Monday, July 6th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, July 6th. GE Aerospace’s payout ratio is 22.14%.
Analyst Ratings Changes
Several research firms have issued reports on GE. BNP Paribas Exane cut their price objective on GE Aerospace from $300.00 to $270.00 and set an “underperform” rating for the company in a research report on Thursday, May 14th. Morgan Stanley cut their price target on shares of GE Aerospace from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Citigroup reissued a “buy” rating and set a $431.00 price objective (up from $353.00) on shares of GE Aerospace in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $400.00 target price (up from $355.00) on shares of GE Aerospace in a research report on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $386.88.
Read Our Latest Analysis on GE
Trending Headlines about GE Aerospace
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: GE Aerospace and CFM announced commitments for about 1,800 engines, highlighted by IndiGo’s order for more than 1,000 LEAP-1A engines — the largest single LEAP order ever and a major backlog booster. GE Aerospace Wraps Historic Farnborough Airshow
- Positive Sentiment: The company also won additional widebody engine business, including GEnx-1B orders for Philippine Airlines and AerCap, reinforcing demand in the commercial services and engines franchise. GE Aerospace Wraps Historic Farnborough Airshow
- Positive Sentiment: GE Aerospace said FAA and EASA certified durability upgrades for the LEAP-1B engine, which should reduce maintenance burden and improve engine time on wing — a favorable sign for margins and aftermarket revenue. GE Aerospace Concludes Farnborough Airshow with Record Engine Orders, Durability Advances and Hybrid Electric Flight Milestones
- Positive Sentiment: Management also highlighted a milestone in hybrid-electric flight above 30,000 feet and new defense-related collaborations, signaling continued investment in future aerospace technologies and military demand. GE Aerospace Wraps Historic Farnborough Airshow
- Neutral Sentiment: Several analyst notes and stock-trend articles are also keeping GE in focus, but the main stock-moving catalyst today appears to be the company’s strong order announcements and product-certificate news. GE Aerospace (GE) Is a Trending Stock: Facts to Know Before Betting on It
GE Aerospace Profile
GE Aerospace (NYSE: GE) is the aerospace business of General Electric, focused on the design, manufacture and support of aircraft engines, integrated propulsion systems and related aftermarket services. The company serves commercial airlines, airframers, business and general aviation operators, and defense customers, providing propulsion solutions for a broad range of aircraft types from single‑aisle airliners to widebody and military platforms.
Its product portfolio includes a family of commercial and military jet engines as well as spare parts, components and systems engineering.
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