GE Aerospace $GE Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its holdings in GE Aerospace (NYSE:GE) by 22.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,326 shares of the company’s stock after buying an additional 24,504 shares during the quarter. Kestra Advisory Services LLC’s holdings in GE Aerospace were worth $42,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp lifted its position in shares of GE Aerospace by 2.6% during the 2nd quarter. State Street Corp now owns 46,497,628 shares of the company’s stock valued at $17,377,559,000 after buying an additional 1,160,584 shares in the last quarter. Jennison Associates LLC increased its position in shares of GE Aerospace by 37.7% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GE Aerospace by 6.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock valued at $2,710,142,000 after purchasing an additional 427,820 shares during the last quarter. Wellington Management Group LLP raised its stake in GE Aerospace by 97.3% in the 2nd quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock valued at $2,540,592,000 after purchasing an additional 3,352,432 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in GE Aerospace by 10.0% in the 1st quarter. Bank of America Corp DE now owns 7,664,679 shares of the company’s stock valued at $2,175,006,000 after purchasing an additional 695,731 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting GE Aerospace

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Vertical Research reiterated a “buy” rating and issued a $400.00 target price on shares of GE Aerospace in a research report on Tuesday, October 20th. The Goldman Sachs Group restated a “buy” rating and set a $410.00 price target on shares of GE Aerospace in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of GE Aerospace in a research note on Thursday, October 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $425.00 price objective on shares of GE Aerospace in a report on Sunday, October 25th. Finally, Wells Fargo & Company decreased 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. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $373.45.

Insider Activity

In related news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction on 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 directly owned 20,201 shares in the company, valued at approximately $6,717,640.54. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

GE Aerospace Trading Up 2.8%

GE traded up $8.81 during trading hours on Friday, reaching $323.54. The company’s stock had a trading volume of 5,306,018 shares, compared to its average volume of 5,237,439. The stock has a market cap of $334.33 billion, a PE ratio of 37.32, a P/E/G ratio of 2.15 and a beta of 1.43. GE Aerospace has a fifty-two week low of $268.91 and a fifty-two week high of $388.84. 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 business’s 50-day moving average is $314.70 and its 200-day moving average is $323.12.

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

GE Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, October 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is presently 21.68%.

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.