Retirement Systems of Alabama decreased its position in GE Aerospace (NYSE:GE – Free Report) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 524,069 shares of the company’s stock after selling 1,597 shares during the period. Retirement Systems of Alabama’s holdings in GE Aerospace were worth $163,662,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in GE Aerospace by 2.6% in the second quarter. State Street Corp now owns 46,497,628 shares of the company’s stock worth $17,377,559,000 after purchasing an additional 1,160,584 shares during the period. Jennison Associates LLC increased its stake in GE Aerospace by 37.7% during the first quarter. Jennison Associates LLC now owns 11,026,006 shares of the company’s stock valued at $3,128,850,000 after purchasing an additional 3,017,937 shares during the last quarter. Bank of America Corp DE increased its stake in GE Aerospace by 10.0% during the first 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of GE Aerospace by 6.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,251,603 shares of the company’s stock worth $2,710,142,000 after purchasing an additional 427,820 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of GE Aerospace by 97.3% during the second quarter. Wellington Management Group LLP now owns 6,797,935 shares of the company’s stock worth $2,540,592,000 after purchasing an additional 3,352,432 shares during the period. 74.77% of the stock is currently owned by institutional investors.
More GE Aerospace News
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
Insider Buying and Selling at GE Aerospace
In related news, VP Robert Giglietti sold 14,796 shares of GE Aerospace stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total value of $4,920,261.84. Following the sale, the vice president directly 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 this hyperlink. 0.19% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have recently commented on GE. Royal Bank Of Canada set a $376.00 price target on shares of GE Aerospace in a report on Friday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of GE Aerospace from $400.00 to $375.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. UBS Group reissued a “buy” rating and issued a $380.00 target price (up from $377.00) on shares of GE Aerospace in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $378.00 target price on shares of GE Aerospace in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company decreased their target price on GE Aerospace from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, GE Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $373.45.
Get Our Latest Stock Report on GE Aerospace
GE Aerospace Price Performance
Shares of GE opened at $335.80 on Tuesday. GE Aerospace has a 12 month low of $268.91 and a 12 month 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 stock has a fifty day moving average price of $314.54 and a 200 day moving average price of $323.21. The company has a market cap of $347.00 billion, a P/E ratio of 38.73, a PEG ratio of 2.24 and a beta of 1.43.
GE Aerospace (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The company had revenue of $13.29 billion for the quarter, compared to analysts’ expectations of $12.88 billion. During the same period last year, the business posted $1.66 earnings per share. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, research analysts forecast that GE Aerospace will post 8.16 earnings per share for the current year.
GE Aerospace Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, October 5th. GE Aerospace’s dividend payout ratio (DPR) is 21.68%.
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.
GE Aerospace traces its roots to General Electric’s aviation business, which developed over more than a century.
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