QRG Capital Management Inc. Sells 25,665 Shares of GE Aerospace $GE

QRG Capital Management Inc. lowered its position in GE Aerospace (NYSE:GE) by 9.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 237,751 shares of the company’s stock after selling 25,665 shares during the quarter. GE Aerospace makes up about 0.5% of QRG Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. QRG Capital Management Inc.’s holdings in GE Aerospace were worth $61,195,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in GE Aerospace by 17.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 8,241 shares of the company’s stock worth $1,647,000 after buying an additional 1,201 shares during the period. Rainey & Randall Wealth Advisors Inc. purchased a new stake in GE Aerospace in the 1st quarter worth $203,000. Concurrent Investment Advisors LLC lifted its stake in GE Aerospace by 25.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Global Assets Advisory LLC lifted its stake in GE Aerospace by 186.7% in the 1st quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Leisure Capital Management purchased a new stake in GE Aerospace in the 1st quarter worth $222,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research note on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Saturday, September 27th. Zacks Research cut shares of GE Aerospace from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, 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. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $241.92.

GE Aerospace Stock Down 0.7%

Shares of NYSE GE opened at $297.40 on Friday. The firm’s 50-day moving average price is $280.65 and its 200-day moving average price is $243.95. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $315.38 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 3.22 and a beta of 1.49. GE Aerospace has a 12-month low of $159.36 and a 12-month high of $307.25.

GE Aerospace (NYSE:GE) last announced its 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. The firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GE Aerospace had a net margin of 18.64% and a return on equity of 31.32%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, equities research analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 29th. GE Aerospace’s dividend payout ratio is currently 20.08%.

GE Aerospace 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.