Signal Advisors Wealth LLC grew its position in GE Aerospace (NYSE:GE – Free Report) by 125.5% in the third quarter, Holdings Channel.com reports. The fund owned 3,771 shares of the company’s stock after buying an additional 2,099 shares during the period. Signal Advisors Wealth LLC’s holdings in GE Aerospace were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Auto Owners Insurance Co increased its position in shares of GE Aerospace by 52,247.5% during the fourth quarter. Auto Owners Insurance Co now owns 65,721,281 shares of the company’s stock valued at $2,024,413,000 after purchasing an additional 65,595,733 shares during the period. State Street Corp raised its stake in shares of GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock valued at $17,377,559,000 after purchasing an additional 1,160,584 shares in the last quarter. Jennison Associates LLC lifted its position in GE Aerospace by 37.7% in the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock worth $3,128,850,000 after purchasing an additional 3,017,937 shares during the period. Invesco Ltd. lifted its position in GE Aerospace by 2.1% in the fourth quarter. Invesco Ltd. now owns 9,280,276 shares of the company’s stock worth $2,858,604,000 after purchasing an additional 189,979 shares during the period. Finally, Bank of America Corp DE lifted its position in GE Aerospace by 10.0% in the first quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock worth $2,175,006,000 after purchasing an additional 695,731 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on GE. Sanford C. Bernstein reiterated an “outperform” rating on shares of GE Aerospace in a research note on Wednesday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of GE Aerospace from $335.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $400.00 price objective (up from $355.00) on shares of GE Aerospace in a research note on Wednesday, July 15th. Weiss Ratings raised shares of GE Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 17th. Finally, Jefferies Financial Group set a $435.00 price objective on shares of GE Aerospace and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Sixteen research 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’s stock. Based on data from MarketBeat, GE Aerospace currently has an average rating of “Moderate Buy” and an average price target of $386.67.
View Our Latest Stock Report on GE Aerospace
GE Aerospace News Roundup
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: GE Aerospace received a $16 million defense order for fighter-jet generator repair work in Vandalia, Ohio. The contract adds to the company’s defense aftermarket activity and provides incremental revenue visibility. GE Aerospace sends $16M defense order for fighter jet repair work to Vandalia
- Positive Sentiment: Analysts and market commentary are constructive ahead of GE Aerospace’s October 20 earnings release. Coverage points to the possibility of solid third-quarter results, while the average analyst target of $386.67 and Susquehanna’s $430 buy-rated target remain well above the recent trading level. Why It’s Time To Load Up on GE Aerospace Stock GE Aerospace Stock Has Average Target Price of $386.67
- Positive Sentiment: GE Aerospace is committing approximately $400 million to sourcing in India and investing £30 million to expand its Prestwick operation, expected to create 150 jobs. These investments could strengthen manufacturing capacity and support long-term growth, though they may increase near-term spending. GE Aerospace commits USD 400 million to India sourcing GE Aerospace to invest £30m in Prestwick expansion
- Positive Sentiment: The GE Aerospace Foundation’s $1 million workforce-training investment in the Dallas-Fort Worth region may help address skilled-labor shortages and support future hiring. North Texas Aerospace Industry Needs Workers
- Neutral Sentiment: GE Aerospace’s CEO participated in discussions with U.S. officials on aircraft-certification reform. Faster approvals could benefit the industry, but the timing and financial impact remain uncertain. US Transportation Secretary meeting with Boeing and GE CEOs
- Negative Sentiment: Deutsche Bank reduced its GE Aerospace price target to $377 from $450, signaling less upside than previously expected. With the stock trading at a high earnings multiple, investors may be particularly sensitive to any earnings miss or cautious guidance. Deutsche Bank Adjusts Price Target on GE Aerospace
Insider Buying and Selling
In related news, SVP Mohamed Ali sold 8,096 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 20,666 shares of the company’s stock, valued at $7,309,770.86. The trade was a 28.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
GE Aerospace Stock Up 1.6%
NYSE GE opened at $312.04 on Friday. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The company has a market capitalization of $323.76 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.24 and a beta of 1.38. The stock’s 50 day moving average is $330.91 and its two-hundred day moving average is $328.32. 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 (NYSE:GE – Get Free Report) last issued its earnings results on Thursday, July 16th. The company reported $2.02 earnings per share (EPS) 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 business had revenue of $12.63 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same period in the prior year, the firm posted $1.66 EPS. GE Aerospace’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities analysts forecast that GE Aerospace will post 7.91 earnings per share for the current fiscal year.
GE Aerospace Announces Dividend
The business 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 yield of 0.6%. GE Aerospace’s payout ratio is currently 22.14%.
GE Aerospace Company Profile
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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