Curbstone Financial Management Corp Decreases Stock Position in GE Aerospace $GE

Curbstone Financial Management Corp cut its stake in GE Aerospace (NYSE:GE) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,262 shares of the company’s stock after selling 50 shares during the period. Curbstone Financial Management Corp’s holdings in GE Aerospace were worth $1,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kanawha Capital Management LLC boosted its holdings in GE Aerospace by 0.6% in the second quarter. Kanawha Capital Management LLC now owns 10,546 shares of the company’s stock valued at $2,714,000 after purchasing an additional 67 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in GE Aerospace by 7.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 18,033 shares of the company’s stock worth $4,642,000 after buying an additional 1,199 shares during the last quarter. Stratos Wealth Advisors LLC lifted its holdings in GE Aerospace by 37.1% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 5,359 shares of the company’s stock worth $1,379,000 after buying an additional 1,451 shares during the last quarter. Private Trust Co. NA lifted its holdings in GE Aerospace by 7.5% during the 2nd quarter. Private Trust Co. NA now owns 4,905 shares of the company’s stock worth $1,262,000 after buying an additional 344 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in GE Aerospace by 9.5% during the 2nd quarter. Angeles Wealth Management LLC now owns 3,672 shares of the company’s stock worth $945,000 after buying an additional 320 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

Shares of GE stock opened at $300.60 on Friday. The stock has a market capitalization of $318.77 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $307.25. The stock’s 50-day moving average price is $286.07 and its 200 day moving average price is $250.42. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last issued its quarterly 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 return on equity of 31.32% and a net margin of 18.64%.The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GE Aerospace in a report on Friday, August 15th. Wolfe Research boosted their target price on GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Barclays boosted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Zacks Research downgraded GE Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Citigroup reissued a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average price target of $267.13.

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.