GE Aerospace (NYSE:GE) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. lessened its holdings in GE Aerospace (NYSE:GE) by 15.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,808 shares of the company’s stock after selling 500 shares during the period. Pettyjohn Wood & White Inc.’s holdings in GE Aerospace were worth $562,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GE. FMR LLC raised its stake in GE Aerospace by 1.5% in the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock worth $11,145,570,000 after acquiring an additional 965,012 shares during the last quarter. Northern Trust Corp increased its holdings in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares during the period. Invesco Ltd. raised its stake in shares of GE Aerospace by 14.4% in the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock worth $1,591,970,000 after purchasing an additional 1,204,910 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of GE Aerospace by 11.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,551,038 shares of the company’s stock worth $1,259,438,000 after purchasing an additional 781,574 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of GE Aerospace by 9.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,184,973 shares of the company’s stock worth $1,198,382,000 after purchasing an additional 628,458 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GE shares. UBS Group increased their price target on shares of GE Aerospace from $300.00 to $321.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Citigroup reaffirmed a “buy” rating and issued a $296.00 price objective (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Northcoast Research downgraded shares of GE Aerospace from a “buy” rating to a “neutral” rating in a research report on Monday, May 19th. Finally, Royal Bank Of Canada increased their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $232.92.

GE Aerospace Stock Down 1.0%

GE stock opened at $270.90 on Friday. GE Aerospace has a one year low of $150.20 and a one year high of $274.94. 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 firm’s fifty day moving average is $251.39 and its 200 day moving average is $217.73. The firm has a market cap of $287.27 billion, a PE ratio of 37.78, a P/E/G ratio of 2.94 and a beta of 1.37.

GE Aerospace (NYSE:GE) last posted its 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. 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, July 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis 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.