AQR Capital Management LLC Sells 593,777 Shares of GE Aerospace $GE

AQR Capital Management LLC decreased its stake in GE Aerospace (NYSE:GE) by 16.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,087,318 shares of the company’s stock after selling 593,777 shares during the quarter. GE Aerospace makes up about 0.7% of AQR Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. AQR Capital Management LLC’s holdings in GE Aerospace were worth $791,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Bare Financial Services Inc boosted its position in GE Aerospace by 81.1% during the 2nd quarter. Bare Financial Services Inc now owns 96 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the period. Lavaca Capital LLC lifted its holdings in GE Aerospace by 1,666.7% during the 2nd quarter. Lavaca Capital LLC now owns 106 shares of the company’s stock worth $27,000 after buying an additional 100 shares during the period. Nova Wealth Management Inc. acquired a new stake in shares of GE Aerospace in the first quarter valued at about $29,000. IMG Wealth Management Inc. increased its stake in shares of 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 during the period. Finally, Wealth Preservation Advisors LLC bought a new position in shares of GE Aerospace during the first quarter worth about $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

GE Aerospace Price Performance

NYSE:GE opened at $300.23 on Friday. GE Aerospace has a 52-week low of $159.36 and a 52-week high of $316.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.76 and a current ratio of 1.08. The firm has a market capitalization of $316.69 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 2.24 and a beta of 1.40. The stock has a fifty day moving average of $299.55 and a 200 day moving average of $277.98.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, October 21st. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.20. The business had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.29 billion. GE Aerospace had a net margin of 18.34% and a return on equity of 34.01%. GE Aerospace’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. GE Aerospace has set its FY 2025 guidance at 6.000-6.200 EPS. On average, research analysts expect 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 will be paid on Monday, January 26th. Stockholders of record on Monday, December 29th will be given a dividend of $0.36 per share. 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 dividend payout ratio is 19.23%.

Insider Activity at GE Aerospace

In other GE Aerospace news, SVP Russell Stokes sold 8,000 shares of GE Aerospace stock in a transaction that occurred 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 approximately $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 can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GE shares. Wall Street Zen upgraded shares of GE Aerospace from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group set a $366.00 price objective on GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of GE Aerospace from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Jefferies Financial Group lifted 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of GE Aerospace in a research note on Wednesday, October 8th. Sixteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GE Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $309.94.

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.