Beacon Pointe Advisors LLC Reduces Stock Holdings in GE Aerospace (NYSE:GE)

Beacon Pointe Advisors LLC decreased its position in GE Aerospace (NYSE:GE) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,584 shares of the company’s stock after selling 92 shares during the period. Beacon Pointe Advisors LLC’s holdings in GE Aerospace were worth $8,604,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GE. Vanguard Group Inc. raised its holdings in GE Aerospace by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the period. FMR LLC raised its holdings in GE Aerospace by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after acquiring an additional 965,012 shares during the period. Geode Capital Management LLC raised its holdings in GE Aerospace by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after acquiring an additional 529,457 shares during the period. Norges Bank bought a new stake in GE Aerospace during the 4th quarter valued at $2,375,439,000. Finally, Invesco Ltd. raised its holdings in GE Aerospace by 14.4% during the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the company’s stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Stock Up 1.2 %

Shares of NYSE:GE opened at $200.89 on Tuesday. GE Aerospace has a 52-week low of $150.20 and a 52-week high of $214.21. The firm has a fifty day moving average of $194.18 and a 200 day moving average of $186.72. The firm has a market capitalization of $215.61 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.20. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion. GE Aerospace had a net margin of 14.31% and a return on equity of 22.19%. As a group, research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 10th were given a $0.36 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.44 annualized dividend and a yield of 0.72%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. GE Aerospace’s payout ratio is presently 22.40%.

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. UBS Group boosted their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Redburn Atlantic assumed coverage on shares of GE Aerospace in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Northcoast Research raised shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of GE Aerospace from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Citigroup decreased their price target on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $216.92.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, VP Robert M. Giglietti sold 4,104 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $196.73, for a total value of $807,379.92. Following the completion of the sale, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. The trade was a 26.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.