Legacy Financial Independent Advisors LLC lifted its stake in shares of GE Aerospace (NYSE:GE – Free Report) by 298.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,175 shares of the company’s stock after acquiring an additional 8,371 shares during the period. GE Aerospace accounts for about 1.7% of Legacy Financial Independent Advisors LLC’s investment portfolio, making the stock its 19th largest position. Legacy Financial Independent Advisors LLC’s holdings in GE Aerospace were worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of GE. GK Wealth Management LLC acquired a new position in GE Aerospace during the third quarter worth approximately $25,000. Paladin Partners LLC purchased a new position in GE Aerospace during the second quarter worth approximately $38,000. Parvin Asset Management LLC purchased a new position in GE Aerospace during the second quarter worth approximately $41,000. Clark Wealth Partners boosted its holdings in shares of GE Aerospace by 70.1% in the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock valued at $36,000 after purchasing an additional 47 shares during the last quarter. Finally, Markowski Investments acquired a new position in shares of GE Aerospace in the 2nd quarter valued at $46,000. 74.77% of the stock is owned by institutional investors and hedge funds.
GE Aerospace Stock Down 4.6%
Shares of GE Aerospace stock opened at $314.25 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The business has a 50-day moving average of $315.07 and a 200-day moving average of $323.07. The company has a market capitalization of $324.73 billion, a PE ratio of 36.25, a P/E/G ratio of 2.24 and a beta of 1.43.
GE Aerospace (NYSE:GE – Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The company had revenue of $13.29 billion during the quarter, compared to analysts’ expectations of $12.88 billion. During the same period in the prior year, the business posted $1.66 EPS. The business’s revenue was up 24.7% on a year-over-year basis. As a group, equities analysts forecast that GE Aerospace will post 8.16 EPS for the current fiscal year.
GE Aerospace Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 annualized dividend and a yield of 0.6%. GE Aerospace’s dividend payout ratio is currently 21.68%.
Key Stories Impacting GE Aerospace
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: Delayed aircraft deliveries are keeping older planes in service longer, supporting demand for engine maintenance, replacement parts and shop visits. GE Aerospace’s commercial services backlog is reported at about $170 billion, making this a potential longer-term tailwind. GE Aerospace stock faces Boeing delays as maintenance demand rises
- Positive Sentiment: GE Aerospace is set to supply gas-turbine engines for two U.S. Navy destroyers, adding defense-related work and potential follow-on service revenue. GE Aerospace to Supply Engines for Two US Navy Flight III Destroyers
- Positive Sentiment: Technical coverage noted GE recently moved above its 200-day moving average, a signal some investors view as supportive of the longer-term trend. GE Aerospace recently broke out above the 200-day moving average
- Neutral Sentiment: CEO Larry Culp said U.S. midterm election results do not have much impact on GE Aerospace’s business, suggesting limited direct exposure to the political outcome. GE Aerospace CEO Larry Culp on midterm results
- Negative Sentiment: GE updated inspection guidance for certain GEnx-1B engines after a study identified early turbine-blade cracks. Additional inspections could complicate airline schedules and raise near-term service demands or costs; reports linked the issue to recent share weakness. GE updates engine checks after study flags early blade cracks
- Negative Sentiment: A GE Aerospace vice president sold 14,796 shares, reducing his reported stake by about 42%. Insider sales can have varied reasons, but the transaction may add to near-term caution. GE Aerospace insider transaction report
- Negative Sentiment: ETFs were reported as net sellers of GE shares, while commentary also notes the stock’s premium valuation, leaving less room for disappointment in execution or growth. ETFs are net sellers of General Electric
Insider Buying and Selling
In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the transaction, the vice president directly owned 20,201 shares in the company, valued at $6,717,640.54. This represents a 42.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Guggenheim set a $380.00 price objective on GE Aerospace in a report on Wednesday, October 21st. BNP Paribas Exane decreased their target price on GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a report on Wednesday, October 21st. Royal Bank Of Canada set a $376.00 target price on GE Aerospace in a report on Friday, October 23rd. Vertical Research reissued a “buy” rating and set a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $425.00 price target on shares of GE Aerospace in a report on Sunday, October 25th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.45.
Read Our Latest Analysis on GE
GE Aerospace Company Profile
GE Aerospace (NYSE: GE) is a global aerospace company that designs, develops, manufactures and services aircraft engines and related systems. Its products support commercial air transport, business and general aviation, military aircraft, and other defense applications. The company also provides engine components, avionics, mechanical systems, digital solutions and maintenance, repair and overhaul services.
GE Aerospace serves airlines, aircraft operators, leasing companies, airframers and government customers worldwide.
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