New England Research & Management Inc. raised its position in shares of GE Aerospace (NYSE:GE – Free Report) by 42.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,051 shares of the company’s stock after purchasing an additional 2,090 shares during the quarter. New England Research & Management Inc.’s holdings in GE Aerospace were worth $2,202,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. GK Wealth Management LLC acquired a new position in shares of GE Aerospace in the 3rd quarter valued at about $25,000. Paladin Partners LLC purchased a new stake in shares of GE Aerospace in the second quarter worth approximately $38,000. Parvin Asset Management LLC purchased a new stake in shares of GE Aerospace in the second quarter worth approximately $41,000. Markowski Investments acquired a new stake in shares of GE Aerospace during the second quarter worth approximately $46,000. Finally, Burkett Financial Services LLC boosted its holdings in shares of GE Aerospace by 28.9% during the second quarter. Burkett Financial Services LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.
GE Aerospace Stock Up 0.6%
GE stock traded up $1.79 during mid-day trading on Friday, hitting $313.79. The stock had a trading volume of 4,204,651 shares, compared to its average volume of 4,298,996. The company has a current ratio of 0.98, a quick ratio of 0.67 and a debt-to-equity ratio of 0.96. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The company has a fifty day moving average of $329.77 and a 200 day moving average of $328.21. The stock has a market capitalization of $325.58 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 2.28 and a beta of 1.38.
GE Aerospace (NYSE:GE – Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.16. GE Aerospace had a return on equity of 40.56% and a net margin of 17.72%. The company had revenue of $12.63 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same period last year, the business earned $1.66 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities analysts expect that GE Aerospace will post 7.91 EPS for the current fiscal year.
GE Aerospace Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, October 5th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. GE Aerospace’s payout ratio is presently 22.14%.
Analysts Set New Price Targets
A number of brokerages recently commented on GE. JPMorgan Chase & Co. boosted their price objective on shares of GE Aerospace from $335.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $410.00 price objective on shares of GE Aerospace in a research note on Monday, July 20th. Citigroup reiterated a “buy” rating and issued a $431.00 target price (up from $353.00) on shares of GE Aerospace in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of GE Aerospace in a research note on Friday. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $386.67.
Get Our Latest Stock Analysis on GE Aerospace
Key GE Aerospace News
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: Turkish Airlines and CFM International signed a memorandum covering more than 600 LEAP-1B engines, including 300 engines for up to 150 Boeing 737 MAX aircraft, long-term services and material support for a future maintenance facility. The agreement reinforces GE’s long-term engine and aftermarket opportunity. Turkish Airlines and CFM sign MOU for more than 600 LEAP-1B engines
- Positive Sentiment: Bernstein reiterated a Buy rating and its $421 price target, citing resilient aftermarket demand and continued LEAP engine growth. GE Aerospace analyst rating and price target
- Positive Sentiment: Analysts expect third-quarter results to reflect solid commercial and defense demand, with growth potentially supported by GE’s large installed engine base and service revenue. How to Approach GE Aerospace Stock Ahead of Its Q3 Earnings Release?
- Positive Sentiment: GE awarded a $16 million defense-related fighter-jet generator repair order to its Vandalia, Ohio, operation, providing a modest boost to defense backlog and facility utilization.
- Neutral Sentiment: Morgan Stanley said aerospace and defense demand remains intact despite softer investor sentiment across the sector, suggesting fundamentals are holding up even as market enthusiasm cools. Aerospace, Defense Stocks’ Demand Intact Despite Softer Sentiment
- Neutral Sentiment: GE’s foundation plans to invest $1 million in Dallas-Fort Worth aviation workforce training, while the company is also pursuing international sourcing and facility investments. These initiatives may support long-term capacity but have limited near-term earnings impact.
- Negative Sentiment: The options market is positioned for GE shares to decline following the earnings release, signaling caution ahead of a potentially volatile report. Ahead of GE Aerospace Earnings, Here’s What Barchart Data Says Comes Next for GE Stock
- Negative Sentiment: Although growth expectations are favorable, GE trades at a premium valuation and faces rising costs. Any earnings miss, cautious guidance or margin pressure could prompt profit-taking.
Insider Activity at GE Aerospace
In related news, SVP Mohamed Ali sold 8,096 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $353.71, for a total value of $2,863,636.16. Following the completion of the sale, the senior vice president owned 20,666 shares of the company’s stock, valued at approximately $7,309,770.86. The trade was a 28.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.
About GE Aerospace
GE Aerospace is an aerospace and defense company that designs, develops, manufactures and services aircraft engines and integrated systems. Its products support commercial and business aviation, military aircraft, and other specialized aerospace applications.
The company’s offerings include commercial and military jet engines, propulsion systems, avionics, electrical power systems, mechanical systems and digital solutions. GE Aerospace also provides maintenance, repair, overhaul and other lifecycle services intended to support the operation and performance of aircraft and engines.
GE Aerospace serves airlines, aircraft manufacturers, leasing companies, defense organizations and other customers worldwide.
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