GE Aerospace $GE Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors lowered its stake in GE Aerospace (NYSE:GE) by 66.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,668 shares of the company’s stock after selling 13,095 shares during the quarter. Ibex Wealth Advisors’ holdings in GE Aerospace were worth $2,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GK Wealth Management LLC bought a new stake in GE Aerospace in the 3rd quarter valued at $25,000. Paladin Partners LLC bought a new position in GE Aerospace during the 2nd quarter worth about $38,000. Parvin Asset Management LLC bought a new position in GE Aerospace during the 2nd quarter worth about $41,000. Clark Wealth Partners increased its holdings in GE Aerospace by 70.1% during the 3rd quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after purchasing an additional 47 shares in the last quarter. Finally, Markowski Investments acquired a new stake in shares of GE Aerospace in the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling at GE Aerospace

In other news, VP Robert Giglietti sold 14,796 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $332.54, for a total value of $4,920,261.84. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

GE Aerospace Stock Up 0.2%

GE traded up $0.62 during trading hours on Friday, hitting $331.48. 3,374,099 shares of the company’s stock were exchanged, compared to its average volume of 5,656,815. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The stock’s 50-day moving average is $314.81 and its two-hundred day moving average is $324.02. The stock has a market cap of $342.53 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.25 and a beta of 1.43. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.96.

GE Aerospace (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The firm had revenue of $13.29 billion for the quarter, compared to analyst estimates of $12.88 billion. During the same period in the previous year, the business earned $1.66 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. Sell-side analysts predict that GE Aerospace will post 8.16 earnings per share for the current fiscal year.

GE Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio is currently 21.68%.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. UBS Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Guggenheim set a $380.00 price objective on GE Aerospace in a report on Wednesday, October 21st. Susquehanna dropped their target price on GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a research report on Wednesday, October 21st. Finally, Vertical Research reissued a “buy” rating and issued a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $373.45.

GE Aerospace Company 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.