Allspring Global Investments Holdings LLC Sells 140,429 Shares of GE Aerospace $GE

Allspring Global Investments Holdings LLC lessened its stake in GE Aerospace (NYSE:GE) by 14.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 829,929 shares of the company’s stock after selling 140,429 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GE Aerospace were worth $206,669,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new stake in shares of GE Aerospace during the 1st quarter valued at $28,000. Copia Wealth Management grew its position in shares of GE Aerospace by 14,200.0% during the 1st quarter. Copia Wealth Management now owns 143 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares during the period. Nova Wealth Management Inc. bought a new stake in shares of GE Aerospace during the 1st quarter valued at $29,000. Wealth Preservation Advisors LLC bought a new stake in shares of GE Aerospace during the 1st quarter valued at $30,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of GE Aerospace during the 1st quarter valued at $33,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $350.00 price objective on shares of GE Aerospace in a research report on Wednesday. Wolfe Research boosted their price objective on shares of GE Aerospace from $280.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Citigroup restated a “buy” rating and set a $296.00 target price (up previously from $227.00) on shares of GE Aerospace in a research note on Monday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $264.50.

GE Aerospace Stock Down 2.5%

GE opened at $291.96 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 1.04. GE Aerospace has a fifty-two week low of $159.36 and a fifty-two week high of $307.25. The firm’s fifty day moving average is $283.44 and its 200 day moving average is $247.67. The stock has a market cap of $309.61 billion, a price-to-earnings ratio of 40.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.49.

GE Aerospace (NYSE:GE) last released its earnings results on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The company 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%. GE Aerospace’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. On average, sell-side analysts forecast that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Monday, September 29th will be issued 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 of this dividend is Monday, September 29th. GE Aerospace’s dividend payout ratio is 20.08%.

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.