GE Aerospace $GE Position Raised by Candriam S.C.A.

Candriam S.C.A. grew its position in shares of GE Aerospace (NYSE:GE) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,296 shares of the company’s stock after acquiring an additional 12,091 shares during the quarter. Candriam S.C.A.’s holdings in GE Aerospace were worth $49,301,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GE. Richard Young Associates Ltd. increased its position in shares of GE Aerospace by 8.2% during the 3rd quarter. Richard Young Associates Ltd. now owns 1,983 shares of the company’s stock worth $619,000 after purchasing an additional 150 shares during the last quarter. American State Bank Iowa boosted its holdings in shares of GE Aerospace by 4.0% in the 3rd quarter. American State Bank Iowa now owns 8,819 shares of the company’s stock valued at $2,754,000 after buying an additional 341 shares during the last quarter. Cullinan Associates Inc. grew its stake in shares of GE Aerospace by 5.5% in the third quarter. Cullinan Associates Inc. now owns 5,462 shares of the company’s stock valued at $1,706,000 after buying an additional 286 shares in the last quarter. Cooper Haims Advisors LLC grew its stake in shares of GE Aerospace by 7.6% in the third quarter. Cooper Haims Advisors LLC now owns 1,008 shares of the company’s stock valued at $315,000 after buying an additional 71 shares in the last quarter. Finally, Ethic Inc. grew its stake in shares of GE Aerospace by 5.4% in the third quarter. Ethic Inc. now owns 76,847 shares of the company’s stock valued at $23,998,000 after buying an additional 3,904 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GE Aerospace

In other 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 transaction of $4,920,261.84. Following the completion of the sale, the vice president owned 20,201 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

GE Aerospace Price Performance

GE Aerospace stock opened at $323.54 on Friday. The company has a market capitalization of $334.33 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.20 and a beta of 1.43. The stock’s 50 day moving average is $314.70 and its 200-day moving average is $323.12. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. GE Aerospace has a 12 month low of $268.91 and a 12 month high of $388.84.

GE Aerospace (NYSE:GE) last released 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. The business had revenue of $13.29 billion during 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 firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 EPS. Equities research analysts expect that GE Aerospace will post 8.16 EPS for the current 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 dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.6%. GE Aerospace’s dividend payout ratio (DPR) is currently 21.68%.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Melius Research set a $350.00 target price on shares of GE Aerospace and gave the stock a “hold” rating in a report on Monday, September 14th. BNP Paribas Exane decreased their price objective on shares of GE Aerospace from $305.00 to $280.00 and set an “underperform” rating for the company in a research report on Wednesday, October 21st. TD Cowen restated a “buy” rating and set a $380.00 price objective (up from $330.00) on shares of GE Aerospace in a research note on Monday, July 13th. Susquehanna lowered their price objective on shares of GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a research note on Wednesday, October 21st. Finally, Guggenheim set a $380.00 target price on shares of GE Aerospace in a report on Wednesday, October 21st. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $373.45.

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.