GE Aerospace $GE Shares Sold by Okabena Investment Services Inc.

Okabena Investment Services Inc. reduced its holdings in shares of GE Aerospace (NYSE:GE) by 22.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,195 shares of the company’s stock after selling 4,032 shares during the period. GE Aerospace makes up 0.8% of Okabena Investment Services Inc.’s holdings, making the stock its 28th largest position. Okabena Investment Services Inc.’s holdings in GE Aerospace were worth $3,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Vanguard Group Inc. raised its position in shares of GE Aerospace by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 91,989,511 shares of the company’s stock valued at $23,677,180,000 after purchasing an additional 1,482,069 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company’s stock worth $5,030,028,000 after buying an additional 1,492,486 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE Aerospace by 3.1% during the second quarter. Geode Capital Management LLC now owns 24,113,967 shares of the company’s stock worth $6,181,956,000 after buying an additional 724,559 shares during the period. Norges Bank acquired a new position in shares of GE Aerospace in the 2nd quarter valued at $3,408,828,000. Finally, Invesco Ltd. lifted its position in GE Aerospace by 0.6% during the 1st quarter. Invesco Ltd. now owns 9,599,522 shares of the company’s stock worth $1,921,344,000 after acquiring an additional 54,765 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

GE Aerospace Stock Performance

NYSE GE opened at $298.27 on Monday. The stock has a market capitalization of $314.62 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 3.09 and a beta of 1.56. The stock has a 50-day moving average of $301.68 and a 200 day moving average of $274.67. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.99. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $316.67.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share 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 the consensus estimate of $10.29 billion. GE Aerospace had a return on equity of 34.01% and a net margin of 18.34%.The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 EPS. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. Sell-side analysts anticipate that GE Aerospace will post 5.4 EPS for the current fiscal year.

GE Aerospace Announces Dividend

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

Insider Activity at GE Aerospace

In other news, SVP Russell Stokes sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $297.71, for a total value of $2,381,680.00. Following the transaction, the senior vice president owned 150,434 shares in the company, valued at $44,785,706.14. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. UBS Group set a $366.00 target price on GE Aerospace and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut shares of GE Aerospace from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. BNP Paribas Exane initiated coverage on GE Aerospace in a research note on Tuesday, November 18th. They set an “underperform” rating for the company. TD Cowen upped their target price on GE Aerospace from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research report on Monday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.27.

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.