ARK Investment Management LLC Trims Holdings in GE Aerospace $GE

ARK Investment Management LLC decreased its stake in shares of GE Aerospace (NYSE:GE) by 20.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,055 shares of the company’s stock after selling 1,261 shares during the quarter. ARK Investment Management LLC’s holdings in GE Aerospace were worth $1,301,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. lifted its position in GE Aerospace by 113.5% during the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock worth $29,000 after buying an additional 59 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in GE Aerospace in the first quarter valued at $28,000. Nova Wealth Management Inc. purchased a new stake in GE Aerospace in the first quarter valued at $29,000. Wealth Preservation Advisors LLC purchased a new stake in GE Aerospace in the first quarter valued at $30,000. Finally, O Brien Wealth Partners LLC purchased a new stake in GE Aerospace in the first quarter valued at $33,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

GE Aerospace Trading Down 2.9%

NYSE:GE opened at $297.64 on Thursday. The stock has a 50-day simple moving average of $287.74 and a 200-day simple moving average of $252.86. The stock has a market cap of $315.63 billion, a P/E ratio of 39.74, a P/E/G ratio of 3.20 and a beta of 1.49. GE Aerospace has a 1 year low of $159.36 and a 1 year high of $316.53. 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 (NYSE:GE) last released its quarterly earnings data 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. The business had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $10.29 billion. GE Aerospace had a return on equity of 33.81% and a net margin of 18.34%.The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, analysts anticipate that GE Aerospace will post 5.4 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, September 29th will be issued a $0.36 dividend. 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 payout ratio is presently 19.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GE shares. Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research report on Wednesday, October 8th. Barclays lifted their target price on GE Aerospace from $230.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded GE Aerospace from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. The Goldman Sachs Group boosted their price objective on GE Aerospace from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 10th. Finally, Jefferies Financial Group boosted their target price on GE Aerospace from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $284.27.

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.