Baker Avenue Asset Management LP Sells 5,851 Shares of GE Aerospace $GE

Baker Avenue Asset Management LP cut its position in GE Aerospace (NYSE:GE) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,274 shares of the company’s stock after selling 5,851 shares during the quarter. Baker Avenue Asset Management LP’s holdings in GE Aerospace were worth $24,780,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bare Financial Services Inc lifted its stake in GE Aerospace by 81.1% during the second quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Nova Wealth Management Inc. bought a new stake in shares of GE Aerospace during the 1st quarter worth $29,000. IMG Wealth Management Inc. boosted its stake in GE Aerospace by 113.5% in the second quarter. IMG Wealth Management Inc. now owns 111 shares of the company’s stock valued at $29,000 after buying an additional 59 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in GE Aerospace in the first quarter valued at about $30,000. Finally, Financial Network Wealth Advisors LLC grew its position in GE Aerospace by 81.9% in the first quarter. Financial Network Wealth Advisors LLC now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Russell Stokes sold 8,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $297.71, for a total transaction of $2,381,680.00. Following the transaction, the senior vice president directly owned 150,434 shares of the company’s stock, valued at $44,785,706.14. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Susquehanna began coverage on shares of GE Aerospace in a report on Thursday. They issued a “positive” rating and a $350.00 target price for the company. Wall Street Zen downgraded shares of GE Aerospace from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. JPMorgan Chase & Co. raised their target price 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. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a report on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price objective on GE Aerospace from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Sixteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.31.

GE Aerospace Trading Down 2.8%

GE opened at $283.74 on Monday. GE Aerospace has a twelve month low of $159.36 and a twelve month high of $316.67. The company has a fifty day moving average of $300.52 and a 200-day moving average of $276.62. The stock has a market cap of $299.29 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 2.21 and a beta of 1.40. 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 (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $10.29 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, sell-side analysts predict that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be paid a $0.36 dividend. The ex-dividend date is Monday, December 29th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s payout ratio is currently 19.23%.

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.