Fulcrum Asset Management LLP boosted its holdings in GE Aerospace (NYSE:GE – Free Report) by 16.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,205 shares of the company’s stock after buying an additional 2,118 shares during the period. Fulcrum Asset Management LLP’s holdings in GE Aerospace were worth $4,834,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the business. GK Wealth Management LLC purchased a new stake in GE Aerospace during the 3rd quarter valued at $25,000. Paladin Partners LLC bought a new position in shares of GE Aerospace in the 2nd quarter worth approximately $38,000. Parvin Asset Management LLC bought a new position in shares of GE Aerospace in the 2nd quarter worth approximately $41,000. Clark Wealth Partners boosted its holdings in shares of GE Aerospace by 70.1% in the third quarter. Clark Wealth Partners now owns 114 shares of the company’s stock worth $36,000 after buying an additional 47 shares during the last quarter. Finally, Markowski Investments purchased a new position in shares of GE Aerospace in the second quarter worth approximately $46,000. 74.77% of the stock is owned by hedge funds and other institutional investors.
GE Aerospace News Summary
Here are the key news stories impacting GE Aerospace this week:
- Positive Sentiment: GE Aerospace signed deals worth nearly $13 billion at China’s CIIE, a potential boost to its commercial opportunities and long-term business in the region. Article: GE Aerospace signs deals worth nearly $13b at CIIE
- Positive Sentiment: Wall Street analysts remain bullish on GE Aerospace despite its underperformance versus the broader market over the past year, supporting a favorable view of its prospects. Article: GE Aerospace Stock: Is Wall Street Bullish or Bearish?
- Neutral Sentiment: State Street Industrial Select SPDR reported selling GE shares as part of a broader sale of its entire 83-stock portfolio. This may create some trading pressure, but appears to be a fund-level move rather than a GE-specific judgment. Article: What State Street Industrial Select SPDR Sold: GE Leads on Nov. 5
- Negative Sentiment: A GE Aerospace vice president sold about $4.9 million in company stock. Insider sales can weigh on sentiment, though the report alone does not establish the reason for the transaction. Article: GE Aerospace VP Sells $4,920,261.84 in Stock
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GE. Morgan Stanley restated an “overweight” rating and set a $375.00 target price (down from $400.00) on shares of GE Aerospace in a research report on Wednesday, October 21st. Wells Fargo & Company decreased their price target on shares of GE Aerospace from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. Melius Research set a $350.00 price target on shares of GE Aerospace and gave the stock a “hold” rating in a research note on Monday, September 14th. Vertical Research reiterated a “buy” rating and set a $400.00 price target on shares of GE Aerospace in a research note on Tuesday, October 20th. Finally, HC Wainwright set a $375.00 price objective on shares of GE Aerospace in a research report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $373.45.
Check Out Our Latest Analysis on GE Aerospace
Insider Transactions at GE Aerospace
In other GE Aerospace news, VP Robert Giglietti sold 14,796 shares of the 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 sale, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. This represents a 42.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.
GE Aerospace Price Performance
Shares of NYSE:GE opened at $335.80 on Tuesday. 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 company has a market capitalization of $347.00 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.24 and a beta of 1.43. The firm’s 50 day simple moving average is $314.54 and its two-hundred day simple moving average is $323.21.
GE Aerospace (NYSE:GE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.24. The firm had revenue of $13.29 billion during the quarter, compared to analysts’ expectations of $12.88 billion. GE Aerospace had a net margin of 17.31% and a return on equity of 44.43%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. Research analysts expect that GE Aerospace will post 8.16 EPS for the current fiscal year.
GE Aerospace Announces Dividend
The company also recently announced 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%.
About GE Aerospace
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.
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