Sei Investments Co. Trims Stock Holdings in GE Aerospace (NYSE:GE)

Sei Investments Co. reduced its holdings in GE Aerospace (NYSE:GE) by 1.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,039,809 shares of the company’s stock after selling 10,059 shares during the quarter. GE Aerospace makes up 2.0% of Sei Investments Co.’s portfolio, making the stock its 9th biggest position. Sei Investments Co. owned approximately 0.10% of GE Aerospace worth $208,118,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Rainey & Randall Wealth Advisors Inc. acquired a new position in GE Aerospace during the 1st quarter valued at about $203,000. Sendero Wealth Management LLC raised its holdings in GE Aerospace by 526.6% during the first quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company’s stock worth $3,004,000 after purchasing an additional 12,613 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in GE Aerospace by 25.1% during the first quarter. Concurrent Investment Advisors LLC now owns 41,039 shares of the company’s stock worth $8,065,000 after purchasing an additional 8,245 shares in the last quarter. Global Assets Advisory LLC raised its holdings in GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Leisure Capital Management bought a new stake in GE Aerospace during the first quarter worth approximately $222,000. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of NYSE:GE opened at $269.09 on Thursday. GE Aerospace has a 1-year low of $159.36 and a 1-year high of $281.50. The firm has a market capitalization of $285.35 billion, a PE ratio of 37.53, a PEG ratio of 3.01 and a beta of 1.44. The business’s 50 day moving average is $256.84 and its 200-day moving average is $223.15. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%. The company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm earned $1.20 EPS. GE Aerospace’s revenue for the quarter was up 21.2% compared to the same quarter last year. Sell-side analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. GE Aerospace’s dividend payout ratio (DPR) is presently 20.08%.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Wall Street Zen raised GE Aerospace from a “hold” rating to a “buy” rating in a report on Friday, July 18th. UBS Group upped their target price on GE Aerospace from $300.00 to $321.00 and gave the company a “buy” rating in a report on Friday, July 18th. Citigroup restated a “buy” rating and issued a $296.00 target price (up from $227.00) on shares of GE Aerospace in a report on Monday, July 14th. Northcoast Research lowered GE Aerospace from a “buy” rating to a “neutral” rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada lifted their price target on GE Aerospace from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, GE Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.92.

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.