Wellington Shields Capital Management LLC Sells 2,369 Shares of GE Aerospace $GE

Wellington Shields Capital Management LLC reduced its stake in GE Aerospace (NYSE:GE) by 21.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,921 shares of the company’s stock after selling 2,369 shares during the period. Wellington Shields Capital Management LLC’s holdings in GE Aerospace were worth $2,296,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. GQG Partners LLC bought a new position in GE Aerospace in the 1st quarter valued at about $1,606,840,000. Nuveen LLC acquired a new position in shares of GE Aerospace in the first quarter valued at approximately $777,075,000. Amundi increased its stake in shares of GE Aerospace by 124.0% during the first quarter. Amundi now owns 3,200,479 shares of the company’s stock worth $600,506,000 after purchasing an additional 1,771,944 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in GE Aerospace by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in GE Aerospace by 7,406.4% in the 1st quarter. 1832 Asset Management L.P. now owns 1,212,209 shares of the company’s stock valued at $242,624,000 after purchasing an additional 1,196,060 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen increased their price objective on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Bank of America upped their price target on shares of GE Aerospace from $310.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, October 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $350.00 price objective on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, GE Aerospace presently has an average rating of “Moderate Buy” and an average price target of $301.27.

GE Aerospace Price Performance

GE stock opened at $309.09 on Monday. The company’s 50-day moving average price is $293.60 and its two-hundred day moving average price is $260.80. The firm has a market cap of $326.03 billion, a P/E ratio of 41.27, a P/E/G ratio of 3.09 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. GE Aerospace has a 12 month low of $159.36 and a 12 month high of $316.67.

GE Aerospace (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.20. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. The business had revenue of $11.31 billion for the quarter, compared to analyst estimates of $10.29 billion. During the same quarter last year, the business posted $1.15 EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Monday, September 29th were paid a $0.36 dividend. The ex-dividend date was Monday, September 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 19.23%.

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.