GE Aerospace $GE Stock: Carret Asset Management LLC Increases Stake

Carret Asset Management LLC lifted its position in shares of GE Aerospace (NYSE:GE) by 23.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,476 shares of the company’s stock after purchasing an additional 1,979 shares during the quarter. Carret Asset Management LLC’s holdings in GE Aerospace were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GE. Burkett Financial Services LLC lifted its position in GE Aerospace by 28.9% in 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. BOK Financial Private Wealth Inc. boosted its stake in GE Aerospace by 3.2% during the second quarter. BOK Financial Private Wealth Inc. now owns 960 shares of the company’s stock worth $359,000 after buying an additional 30 shares in the last quarter. Gradient Investments LLC boosted its stake in GE Aerospace by 4.4% during the second quarter. Gradient Investments LLC now owns 765 shares of the company’s stock worth $286,000 after buying an additional 32 shares in the last quarter. Kinloch Capital LLC increased its holdings in GE Aerospace by 3.1% in the 2nd quarter. Kinloch Capital LLC now owns 1,079 shares of the company’s stock valued at $403,000 after buying an additional 32 shares during the period. Finally, United Community Bank increased its holdings in GE Aerospace by 10.1% in the 2nd quarter. United Community Bank now owns 361 shares of the company’s stock valued at $135,000 after buying an additional 33 shares during the period. 74.77% of the stock is currently owned by institutional investors.

GE Aerospace Price Performance

Shares of GE stock opened at $323.54 on Monday. The stock’s fifty day simple moving average is $314.70 and its 200 day simple moving average is $323.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.98 and a quick ratio of 0.68. The firm has a market cap of $334.33 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.20 and a beta of 1.43. GE Aerospace has a one year low of $268.91 and a one year high of $388.84.

GE Aerospace (NYSE:GE) last released its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same period in the prior year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, analysts expect that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders 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 dividend yield of 0.6%. GE Aerospace’s dividend payout ratio is presently 21.68%.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of GE Aerospace from $400.00 to $375.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Melius Research set a $350.00 target price on shares of GE Aerospace and gave the company a “hold” rating in a research report on Monday, September 14th. Wells Fargo & Company lowered their target price on shares of GE Aerospace from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Morgan Stanley reissued an “overweight” rating and issued a $375.00 price target (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday, October 15th. Sixteen equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $373.45.

Insider Buying and Selling at GE Aerospace

In related news, VP Robert Giglietti sold 14,796 shares of the stock in a transaction dated 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 completion of the sale, the vice president owned 20,201 shares in the company, valued at $6,717,640.54. This trade represents a 42.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

GE Aerospace News Summary

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE Aerospace partnered with BETA Technologies on a hybrid-electric aircraft demonstration, marking progress in a new propulsion technology area. GE Aerospace partners with BETA Technologies
• Positive Sentiment: GE is part of a team working on KC-135 modernization, adding a defense-program opportunity alongside its commercial aerospace business. SNC teams with BAE, Collins and GE for KC-135 modernization
• Neutral Sentiment: Analyst coverage highlighted GE’s roughly $170 billion services backlog and generally favorable ratings, but also questioned whether the stock’s valuation already reflects much of its growth potential. GE Aerospace backlog and valuation analysis
• Negative Sentiment: Vice President Robert Giglietti sold 14,796 shares, cutting his reported stake by about 42%. Insider sales can have many explanations, but may contribute to investor caution. GE Aerospace VP sells shares
• Negative Sentiment: ETFs were reported as net sellers of GE shares, a sign of near-term fund outflows that could weigh on sentiment. ETFs are net sellers of General Electric

GE Aerospace Profile

GE Aerospace (NYSE: GE) designs, manufactures and services engines and related systems for commercial and military aircraft. Its offerings include aircraft engines, components, avionics and other integrated systems, along with maintenance, repair and overhaul services and digital solutions that support aircraft operations.

The company serves airlines, aircraft manufacturers, governments and defense organizations around the world. Its business combines original equipment production with long-term aftermarket support, including parts and technical services for engines already in operation.

GE Aerospace traces its roots to General Electric’s aviation business, which developed over more than a century.